Fund Description: Van Eck Merk Gold Trust, formerly Merk Gold Trust, issues Merk Gold shares which represent units of fractional undivided beneficial interest in the Trust. The Trust is not an investment company registered under the Investment Company Act of 1940, and is not required to register with the Securities and Exchange Commission thereunder.<p> INVESTMENT OBJECTIVE: The Van Eck Merk Gold Trust's primary objective is to provide investors with an opportunity to invest in gold through the shares and be able to take delivery of physical gold bullion in exchange for their shares. The Trust’s secondary objective is for the shares to reflect the performance of the price of gold less the expenses of the Trust’s operations. The Trust is not actively managed. <p> TRUST STRATEGY: The Trust’s assets consist principally of gold held on the Trust’s behalf in financial institutions for safekeeping. Each share represents a fractional undivided beneficial interest in the Trust’s net assets. Physical gold that the Trust will hold includes London Bars, other gold bars and coins. The Sponsor believes that investors will be able to more effectively implement strategic and tactical asset allocation strategies that use gold by investing in the shares than by purchasing, holding and trading gold directly. Shares are issued by the Trust only in blocks of 50,000 shares called Baskets in exchange for gold from certain registered broker-dealers or other securities market participants (Authorized Participants). Baskets may be redeemed by the Trust in exchange for the amount of gold corresponding to their redemption value. The Trust issues and redeems Baskets on an ongoing basis at net asset value to Authorized Participants who have entered into a contract with the Sponsor and the Trustee. The Trust will not hold or employ derivatives. Gold also is not subject to borrowing arrangements with third parties. Accordingly, the Trust’s allocated gold will not be subject to counterparty or credit risks. The value of Gold will be reported on the Trust’s website daily. <p> TRUST MANAGEMENT: The sponsor of the Trust is Merk Investments LLC. The Sponsor arranged for the creation of the Trust, the registration of the shares for their public offering in the United States and the listing of the shares on NYSE Arca.