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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated
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From: Slumdog12/7/2011 8:34:14 PM
1 Recommendation   of 119362
 
Merk Elevates Singapore Dollar to Hard Currency.................................

PALO ALTO, CA. December 7, 2011 – Merk Investments, manager of the Merk Funds, today announced that it now considers the Singapore Dollar a hard currency. While Merk has invested in the Singapore Dollar for years though the Merk Asian Currency Fund® (MEAFX), Merk may now invest in the Singapore Dollar more broadly, specifically also in the Merk Hard Currency Fund® (MERKX).

"Singapore is the new Switzerland. In an era when other central banks resort to the printing press in an ill-guided effort to remain competitive, the Monetary Authority of Singapore (MAS) has shown prudence and restraint," says Axel Merk, President and Chief Investment Officer at Merk. Singapore has a unique approach to conducting monetary policy: rather than targeting interest rates or money supply, the MAS conducts its monetary policy through a managed float regime for the Singapore dollar against a basket of currencies. “We now believe that the MAS policy is not only appropriate for Singapore's trade based economy, but also consistent with our view of the pursuit of sound monetary policy in an increasingly unstable world," concludes Merk.

merkfunds.com
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