Our Investment Process

  • We use a matrix of top-down macro models and bottom-up micro stock selection models to determine weighting in countries, sectors and individual securities.
  • We believe government policies are a precursor to change, and as a result, we monitor and track the fiscal and monetary policies of the world’s largest countries both in terms of economic stature and population.
  • We focus on historical and socioeconomic cycles, and we apply both statistical and fundamental models, including “growth at a reasonable price” (GARP), to identify companies with superior growth and value metrics.
  • We overlay these explicit knowledge models with the tacit knowledge obtained by domestic and global travel for first-hand observation of local and geopolitical conditions, as well as specific companies and projects.

Net Asset Value
as of 03/26/2015

Global Resources Fund PSPFX $5.86 -0.04 Gold and Precious Metals Fund USERX $5.42 -0.12 World Precious Minerals Fund UNWPX $4.54 -0.08 China Region Fund USCOX $8.27 -0.02 Emerging Europe Fund EUROX $6.21 -0.12 All American Equity Fund GBTFX $27.77 -0.09 Holmes Macro Trends Fund MEGAX $20.65 -0.08 Near-Term Tax Free Fund NEARX $2.26 No Change China Region Fund USCOX $8.27 -0.02