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Merk launches institutional share class of currency funds

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Merk Investments, manager of Merk Mutual Funds, has launched an institutional share class for its three currency mutual funds.

The funds are the Merk Hard Currency Fund, the Merk Asian Currency Fund and the Merk Absolute Return Currency Fund.

“Investment advisers have been calling on us to offer an institutional version of the Merk Mutual Funds. Through the funds, we offer true diversification into currency as an asset class with the ease of investing in a mutual fund. We have expanded our leadership as we have become the largest mutual fund company focusing exclusively on currencies,” says Axel Merk, president and chief investment officer of Merk Investments.

Merk’s institutional class shares eliminate the 12b-1 fee that is part of the investor class shares. A minimum investment of USD250,000 is required that may be aggregated across advisory client accounts.

Initially, the institutional class shares are available through Schwab, Fidelity, TD Ameritrade, as well as directly from Merk.

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