What we don’t do

• we don’t charge entry or exit fees on the fund
• we don’t invest in other funds, so there are no hidden ‘fees on fees’ of funds of funds to pay*;
• we don’t hug any benchmarks to follow the crowds;
• we don’t sell company stocks that we don’t own, known as ‘short-selling’ in order to drive the price of other people’s investments down;
• we don’t lend out company stocks to help others ‘short-sell’ against others either;
• we don’t borrow or use leverage to make investments;
• we don’t invest in raw commodities but rather invest in the growers and traders, shippers and manufacturers who best know their value in the production process*;
• we don’t invest in unlisted investments or illiquid structured products, property funds, infrastructure, private equity or alternatives
• we don’t tell you what kind of fee you have to pay: we give you a unique set of choices so you can design for yourself what suits you best – the choice of a performance fee share class enables  investors to design their own mix of fees, and the SP share class for pensions and endowment investors is one of the best value ‘active’ investment fees anywhere in the market.

* we may use other types of marketable securities or exchange traded funds to gain exposure to precious metals at certain times in the business cycle when the intention is efficiently and cost-effectively to provide some downside protection for the Fund.