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 05/27/2016

Global Resources Fund PSPFX $5.07 -0.01 Gold and Precious Metals Fund USERX $7.67 -0.23 World Precious Minerals Fund UNWPX $6.42 -0.14 China Region Fund USCOX $6.91 0.08 Emerging Europe Fund EUROX $5.58 -0.01 All American Equity Fund GBTFX $23.67 0.06 Holmes Macro Trends Fund MEGAX $18.01 0.12 Near-Term Tax Free Fund NEARX $2.25 No Change U.S. Government Securities Ultra-Short Bond Fund UGSDX $2.00 -0.01