Overview
Merk Investments LLC (“Merk Investments” or the “Firm”), a Delaware limited liability company, is an
investment adviser with its principal place of business in Menlo Park, CA. Merk Investments was formed
in December 2000 by Alexander “Axel” Merk, Managing Member, who is also the principal owner of
Merk Investments (the “Principal”).
Merk Investments is an investment management firm that provides advisory services to an investment
company registered under the Investment Company Act of 1940, as amended (the “Investment Company
Act”), the “Closed-End Fund” and a U.S. listed exchange traded product (“ETP”). Merk Investments has
previously provided (and may in the future) advisory services to sophisticated investors through a privately
offered pooled investment vehicle. Collectively, the Closed-End Fund and ETP are referred to as “Pooled
Vehicles.” Pooled Vehicles, and any private funds Merk Investments may manage, are collectively referred
to as “Clients.”
Merk Investments’ investment objective is to achieve superior risk-adjusted returns
by seeking to deliver
uncorrelated returns using alternative strategies that seek optimal profit potential within tailored investment
objectives. Merk Investments provides investment advice on liquid global markets, including domestic and
international equities, fixed income, commodities and currencies and their respective derivative markets,
as described in Item 8. Methods of Analysis, Investment Strategies and Risk of Loss.
Merk Investments’ investment management services to the Pooled Vehicles are provided pursuant to the
terms of the prospectus of each investment vehicle, and investors in the Pooled Vehicles cannot obtain
services tailored to their individual specific needs.
Merk Investments does not participate in a wrap fee program.
Merk Investments managed client assets of approximately $1,114,080,628 in regulatory assets under
management as of December 31, 2023. This consisted of approximately $339,649,030 of client assets on
a discretionary basis, and approximately $774,431,598 of clients assets on a non-discretionary basis.