Dear Investor,
The EUR Gold class is the class of the Earth Element Fund which is denominated in Gold but mark-to- market in EUR. This class allows you to have a full long exposure in Gold while overlaying the performance of the USD class of the Earth Element Fund. The Fund’s benchmark is the LBMA Gold Spot Afternoon Fixing in EUR.
The Earth Element Fund EUR Gold Class gained 9.33% in May, it gained 6.81% on the Long Gold hedge and 2.52% from its investment in the fund’s USD Class.
On average,