Plenty of
other foreign assets could be sold without disrupting the Chinese outfit's core businesses.
And reserve and
other foreign asset holdings have grown so large that EM investment preferences have come to be seen as an important factor influencing global yields and valuations.
Not exact matches
Important factors that could cause actual results to differ materially from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost of accommodating, announced increases in the build rates of certain aircraft; 6) the effect on aircraft demand and build rates of changing customer preferences for business aircraft, including the effect of global economic conditions on the business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result of global economic uncertainty or otherwise; 8) the effect of economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in
foreign currency exchange rates; 9) the success and timely execution of key milestones such as the receipt of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation of our announced acquisition of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts of terrorism; 14) any adverse impact on the demand for air travel or our operations from the outbreak of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the impact of future discount rate changes on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price for our announced acquisition of Asco on favorable terms or at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of changes in tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other
foreign currency exchange rates; 9) the success and timely execution of key milestones such as the receipt of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or
other third party approvals for the consummation of our announced acquisition of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our
other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and
other customers, and the risk of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts of terrorism; 14) any adverse impact on the demand for air travel or our operations from the outbreak of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or
other security attacks, information technology failures, or
other disruptions; 16) returns on pension plan
assets and the impact of future discount rate changes on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price for our announced acquisition of Asco on favorable terms or at all; 18) competition from commercial aerospace original equipment manufacturers and
other aerostructures suppliers; 19) the effect of governmental laws, such as U.S. export control laws and U.S. and
foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of changes in tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other
foreign anti-bribery laws such as the
Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of changes in tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other
Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of changes in tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and
other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and
other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and
other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in
foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other
foreign current exchange rates, impositions of tariffs or embargoes, compliance with
foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other
foreign laws, and domestic and
foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other
foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among
other things.
Their costs for capital, labour, land, energy and
other resources are subsidized such that they generate huge retained earnings, much of which is being reinvested in
foreign real
assets like Canada's oilpatch, says U of T's Dobson.
Treasury's Office of
Foreign Assets Control added six individuals and 10 companies and
other entities to its sanctions list, saying they have helped people previously penalized for North Korea's weapons development, facilitated North Korea's energy sector and enabled entities to bypass sanctions to get access to the U.S. and international financial system.
«
Others have increased reserve requirements on
foreign purchases of local
assets, or sought to increase incentives for domestic investors to channel money abroad.»
Although it's not illegal to have an offshore holding company or
assets that are held in
foreign accounts, most countries require politicians and
other public figures to declare their holdings.
China's
foreign exchange reserves alone have been rising for ten straight months to $ 3.119 trillion in October, placing the country in a «very strong» net
foreign asset position along with
others such as Germany, Seaman said.
Yandex's Russian operating subsidiaries» functional currency is the Russian ruble, and therefore changes due to exchange rate fluctuations in the ruble value of these subsidiaries» monetary
assets and liabilities that are denominated in
other currencies are recognized as foreign exchange gains or losses within the Other loss, net line in the condensed consolidated statements of in
other currencies are recognized as
foreign exchange gains or losses within the
Other loss, net line in the condensed consolidated statements of in
Other loss, net line in the condensed consolidated statements of income.
Because we hold significant
assets and liabilities in currencies
other than our Russian ruble operating currency, and because
foreign exchange fluctuations are outside of our operational control, we believe that it is useful to present adjusted net income and related margin measures excluding these effects, in order to provide greater clarity regarding our operating performance.
whose net personal
assets exceed in value the minimum amount of S$ 2 million (or its equivalent in a
foreign currency) or such
other amount as the Exchange and the Book Depository may prescribe in place of the first amount; or
(d) an entity (
other than a corporation) with net
assets exceeding S$ 10 million in value (or its equivalent in a
foreign currency);
While the liberalizing reforms usually undermine the ability of the elite to capture a disproportionate share of growth, in
other words, because the reforms often seem to encourage massive
foreign capital inflows, and these push up the price of
assets largely controlled by the elite, political opposition to the reforms is weakened.
The sectoral results for the 2013 survey indicate that Australia's aggregate net
foreign currency
asset position was held principally by non-bank private financial corporations (
other financial corporations), with non-financial corporations and the public sector (including the Future Fund and the Reserve Bank) also holding small net
foreign currency
asset exposures (Graph 5).
After accounting for the use of hedging derivatives, the FCE survey indicates that the overall net
foreign currency
asset position of
other financial corporations was equivalent to 16 per cent of GDP, with a hedging ratio of around 35 per cent for
foreign currency
assets and 60 per cent for
foreign currency liabilities (Table 1).
The graphic above displays the degree to which
foreign banks make up the overall share of banking
assets in Canada and
other OECD countries.
Dollar Hegemony: America's ability to export dollars in exchange for
foreign goods, services and
asset ownership, as if these U.S. Treasury IOUs had an intrinsic value that would end up being worth something to their holders, e.g. as gold or
other hard
assets.
We evaluate inflation and inflation expectations, monetary policies, and risk premia to build a portfolio that includes U.S. and
foreign fixed income, U.S. and
foreign equities, commodities, real estate, and
other real
assets.
There are also
other tax proposals that have been introduced, that are being considered, or that have been enacted by the United States Congress or the legislative bodies in
foreign jurisdictions that could affect our tax rate, the carrying value of deferred tax
assets, or our
other tax liabilities.
The
other is to impose trade tariffs or, what amounts to the same thing, to tax
foreign purchases of US
assets, especially US government bonds, in order to drive down the current account deficit and so allow the US to retain a larger share of what has become the most valuable commodity in the world: demand.
The larger a country's
foreign current account deficit, by definition the greater the inflow of
foreign money to purchase its
assets, mainly government bonds in the case of the US and many
other countries.
We analyzed our
foreign currency exposure to identify
assets and liabilities denominated in
other currencies.
When market conditions favor wider diversification in the view of Hussman Strategic Advisors, Inc., the Fund's investment manager, the Fund may invest up to 30 % of its net
assets in securities outside of the U.S. fixed - income market, such as utility and
other energy - related stocks, precious metals and mining stocks, shares of real estate investment trusts («REITs»), shares of exchange - traded funds («ETFs») and
other similar instruments, and
foreign government debt securities, including debt issued by governments of emerging market countries.
In December 2014, the Company entered into
foreign exchange contracts to hedge monetary
assets and liabilities that are denominated in currencies
other than the functional currency of its subsidiaries.
Many factors could cause BlackBerry's actual results, performance or achievements to differ materially from those expressed or implied by the forward - looking statements, including, without limitation: BlackBerry's ability to enhance its current products and services, or develop new products and services in a timely manner or at competitive prices, including risks related to new product introductions; risks related to BlackBerry's ability to mitigate the impact of the anticipated decline in BlackBerry's infrastructure access fees on its consolidated revenue by developing an integrated services and software offering; intense competition, rapid change and significant strategic alliances within BlackBerry's industry; BlackBerry's reliance on carrier partners and distributors; risks associated with BlackBerry's
foreign operations, including risks related to recent political and economic developments in Venezuela and the impact of
foreign currency restrictions; risks relating to network disruptions and
other business interruptions, including costs, potential liabilities, lost revenues and reputational damage associated with service interruptions; risks related to BlackBerry's ability to implement and to realize the anticipated benefits of its CORE program; BlackBerry's ability to maintain or increase its cash balance; security risks; BlackBerry's ability to attract and retain key personnel; risks related to intellectual property rights; BlackBerry's ability to expand and manage BlackBerry ® World ™; risks related to the collection, storage, transmission, use and disclosure of confidential and personal information; BlackBerry's ability to manage inventory and
asset risk; BlackBerry's reliance on suppliers of functional components for its products and risks relating to its supply chain; BlackBerry's ability to obtain rights to use software or components supplied by third parties; BlackBerry's ability to successfully maintain and enhance its brand; risks related to government regulations, including regulations relating to encryption technology; BlackBerry's ability to continue to adapt to recent board and management changes and headcount reductions; reliance on strategic alliances with third - party network infrastructure developers, software platform vendors and service platform vendors; BlackBerry's reliance on third - party manufacturers; potential defects and vulnerabilities in BlackBerry's products; risks related to litigation, including litigation claims arising from BlackBerry's practice of providing forward - looking guidance; potential charges relating to the impairment of intangible
assets recorded on BlackBerry's balance sheet; risks as a result of actions of activist shareholders; government regulation of wireless spectrum and radio frequencies; risks related to economic and geopolitical conditions; risks associated with acquisitions;
foreign exchange risks; and difficulties in forecasting BlackBerry's financial results given the rapid technological changes, evolving industry standards, intense competition and short product life cycles that characterize the wireless communications industry.
These risks and uncertainties include food safety and food - borne illness concerns; litigation; unfavorable publicity; federal, state and local regulation of our business including health care reform, labor and insurance costs; technology failures; failure to execute a business continuity plan following a disaster; health concerns including virus outbreaks; the intensely competitive nature of the restaurant industry; factors impacting our ability to drive sales growth; the impact of indebtedness we incurred in the RARE acquisition; our plans to expand our newer brands like Bahama Breeze and Seasons 52; our ability to successfully integrate Eddie V's restaurant operations; a lack of suitable new restaurant locations; higher - than - anticipated costs to open, close or remodel restaurants; increased advertising and marketing costs; a failure to develop and recruit effective leaders; the price and availability of key food products and utilities; shortages or interruptions in the delivery of food and
other products; volatility in the market value of derivatives; general macroeconomic factors, including unemployment and interest rates; disruptions in the financial markets; risk of doing business with franchisees and vendors in
foreign markets; failure to protect our service marks or
other intellectual property; a possible impairment in the carrying value of our goodwill or
other intangible
assets; a failure of our internal controls over financial reporting or changes in accounting standards; and
other factors and uncertainties discussed from time to time in reports filed by Darden with the Securities and Exchange Commission.
By using a range of
asset classes such as equities, fixed income,
foreign investments and commodities, among
others, you can more effectively manage volatility during challenging market cycles.
Larry Tribe and
others believe that President elect Trump's ownership of active business
assets, even in a blind trust, would violate, Article I, Section 9, Clause 8 of the Constitution which prevents the President from accepting «presents» or «Emolument» from
foreign states.
The 1977 International Emergency Economic Powers Act, which was used to place sanctions on
other countries after the Sept. 11 attacks, gives the president broad authority to respond to an «unusual and extraordinary threat,» including by halting incoming Chinese transactions, nullifying business deals and freezing
foreign - owned
assets.
The key drivers of the Savings Glut, however, have weakened or reversed: China's growth is rebalancing toward domestic consumption, and its stock of
foreign exchange (FX) reserves has declined;
other Asian emerging markets have already accumulated sufficient FX reserves and no longer need to accumulate
assets; and the plunge in oil prices is forcing a number of oil exporters to reduce savings to delay or smooth the adjustment in expenditures.
Gold 20 % Silver 5 % Swiss Franc
Assets 10 % U.S. and
Foreign Real Estate and Natural Resource Stocks 15 % Aggressive Growth Stocks 15 % U.S. Treasury Bills, Bonds and
Other Dollar
Assets 35 %
Assets are invested in any eligible U.S. dollar - denominated money market instruments as defined by applicable U.S. Securities and Exchange Commission regulations (Rule 2a - 7 of the Investment Company Act of 1940), including all types listed above as well as commercial paper, certificates of deposit, corporate notes, and
other private instruments from domestic and
foreign issuers, as well as repurchase and potentially reverse repurchase agreements.
Examples of these risks, uncertainties and
other factors include, but are not limited to the impact of: adverse general economic and related factors, such as fluctuating or increasing levels of unemployment, underemployment and the volatility of fuel prices, declines in the securities and real estate markets, and perceptions of these conditions that decrease the level of disposable income of consumers or consumer confidence; adverse events impacting the security of travel, such as terrorist acts, armed conflict and threats thereof, acts of piracy, and
other international events; the risks and increased costs associated with operating internationally; our expansion into and investments in new markets; breaches in data security or
other disturbances to our information technology and
other networks; the spread of epidemics and viral outbreaks; adverse incidents involving cruise ships; changes in fuel prices and / or
other cruise operating costs; any impairment of our tradenames or goodwill; our hedging strategies; our inability to obtain adequate insurance coverage; our substantial indebtedness, including the ability to raise additional capital to fund our operations, and to generate the necessary amount of cash to service our existing debt; restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business; the significant portion of our
assets pledged as collateral under our existing debt agreements and the ability of our creditors to accelerate the repayment of our indebtedness; volatility and disruptions in the global credit and financial markets, which may adversely affect our ability to borrow and could increase our counterparty credit risks, including those under our credit facilities, derivatives, contingent obligations, insurance contracts and new ship progress payment guarantees; fluctuations in
foreign currency exchange rates; overcapacity in key markets or globally; our inability to recruit or retain qualified personnel or the loss of key personnel; future changes relating to how external distribution channels sell and market our cruises; our reliance on third parties to provide hotel management services to certain ships and certain
other services; delays in our shipbuilding program and ship repairs, maintenance and refurbishments; future increases in the price of, or major changes or reduction in, commercial airline services; seasonal variations in passenger fare rates and occupancy levels at different times of the year; our ability to keep pace with developments in technology; amendments to our collective bargaining agreements for crew members and
other employee relation issues; the continued availability of attractive port destinations; pending or threatened litigation, investigations and enforcement actions; changes involving the tax and environmental regulatory regimes in which we operate; and
other factors set forth under «Risk Factors» in our most recently filed Annual Report on Form 10 - K and subsequent filings by the Company with the Securities and Exchange Commission.
Liberalization opens the market of our
assets to
foreign capital; people are losing ownership of their public enterprises, raw materials, markets and even capital savings through the eventual sale of state insurance funds, national banks and
other public funds.
But the flurry of
foreign interest in Australian agribusiness
assets is not slowing down and as doubts grow about Pengxin's ability to close the deal, a range of
other suitors including GLAM are poised to strike.
Foreign banks and
other financial services firms will be able to own majority stakes in Chinese banks,
asset management firms and funds with...
On the
other side of the political spectrum, popular nationalisation of
foreign assets could probably be described as ochlocratic.
The prosecution had alleged, among
other asset declaration breaches, that the Senate President while being a public officer, operated bank accounts outside Nigeria, and failed to declare the
foreign accounts to the Code of Conduct Bureau while being governor and a senator during the period.
Saraki is being prosecuted before on charges of false
asset declaration, operating and maintaining of
foreign accounts and
other asset - related infractions while he was governor between 2003 and 2011.
More broadly, science diplomacy benefits
foreign policy in somewhat less obvious but no less important ways: Whether we are engaging with Russia or China or Cuba or any
other country, we are strongest when we can leverage our signature
asset, American ingenuity and when scientific exchanges provide the basis for cooperation.
In addition, investments in all
other asset classes might be associated with
foreign currency risks.
Although the DRS is now offered upon
other asset classes like small cap equity,
foreign developed, and emerging markets, the flagship offering has always utilized U.S. large cap ETFs for its equity exposure.
In addition to investing in
foreign and emerging markets,
asset allocation funds may be invested in: (1) exchange - traded funds; (2) futures, options and
other derivatives; (3) non-investment grade securities; (4) precious metals and minerals companies; (5) real estate investment trusts; and (6) money market instruments.
The Treasury and
Other segment consists of corporate
asset and liability management activities, including interest rate risk management and a
foreign exchange business.
In particular, the demand for money rises when: consumer spending rises, uncertainty rises, there are higher costs in buying and selling
other assets, expectation of a future stronger dollar, increased demand for reserves from central banks (both
foreign and domestic), and a rise in
foreign demand for US goods and investments.
Gold 20 % Silver 5 % Swiss Franc
Assets 10 % U.S. and
Foreign Real Estate and Natural Resource Stocks 15 % Aggressive Growth Stocks 15 % U.S. Treasury Bills, Bonds and
Other Dollar
Assets 35 %
Still believing large cap U.S. stocks were overpriced relative to
other global
asset choices (even in March 2002, two years into a stock slide) we launched our portfolios heavy in
foreign, value, smaller - cap and higher - risk bonds.
Derivatives Risk: Derivatives are instruments, such as futures and
foreign exchange forward contracts, whose value is derived from that of
other assets, rates or indices.
As
others have mentioned this portfolio seems very imbalanced, and somewhat arbitrary: Note that it has no small cap stocks, no
foreign stocks, and no real - estate (i.e. REITs), those are some pretty important
asset classes to ignore.
Normally at least 80 % of the fund's
assets will be invested in equity securities of domestic and
foreign companies (including those located in emerging markets) principally engaged in the exploration, mining, or processing of gold and
other precious metals and minerals, such as platinum, silver, and diamonds.