Merk

The firm's flagship Merk Hard Currency is up about 22% since the start of 2008, while the S&P 500 is down nearly 10% over the same period.

How to Profit When the Dollar Falls Rachel Louise Ensign 2011

"The returns you generate will have a very low correlation with other parts of the portfolio," says Axel Merk, the chief investment officer of Merk Investments LLC, Palo Alto, Calif., which manages three currency funds.

How to Profit When the Dollar Falls Rachel Louise Ensign 2011

SPOTLIGHT | Merk Hard Currency In the small universe of mutual funds focused on currencies, Merk Hard Currency is the top performer of the past three and five years, according to Morningstar Inc.

A Strong Record Against the U.S. Dollar Rachel Louise Ensign 2011

While he purchased Norwegian krone last Friday, Merk doesn't think he's safe from currency intervention there, either.

Seeking Havens Beyond the Franc Neil Shah 2011

"We like it when there's blood in the street, like the euro," says Mr. Merk.

A Strong Record Against the U.S. Dollar Rachel Louise Ensign 2011

"The currency of a country or region that prints less money, we prefer," says Axel Merk , founder of Merk Investments LLC, Palo Alto, Calif.

A Strong Record Against the U.S. Dollar Rachel Louise Ensign 2011

Mr. Merk and his team generally take a "value" approach, trying to buy currencies that are out of favor.

A Strong Record Against the U.S. Dollar Rachel Louise Ensign 2011

Morningstar says the Merk currency funds—which includes the Merk Asian Currency Fund —is one of the most reliable ways to play foreign currencies.

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Another view, propounded by Merk of Merk Investments, is that there aren't really any safe havens left.

Seeking Havens Beyond the Franc Neil Shah 2011

Switzerland's balance sheet is still much better than its euro-zone neighbors, and some investors, like Axel Merk , chief investment officer at Palo Alto, Calif.-based Merk Investments LLC, think the SNB may ultimately struggle to defeat investors who are buying the Swiss franc out of fear.

Seeking Havens Beyond the Franc Neil Shah 2011