NEW YORK, NY--(Marketwire - October 22, 2010) - Midas Funds is pleased to announce today that Midas Perpetual Portfolio (
Midas Perpetual Portfolio seeks to preserve and increase the purchasing power value of its shares over the long term by investing a fixed target percentage of its total assets in gold, silver, Swiss franc assets, hard asset securities, large capitalization growth stocks, and dollar assets.
"We think Midas Perpetual Portfolio will be very well received by Schwab customers," said Tom Winmill, chairman of the Midas Investment Policy Committee that manages the Fund. The investment strategy of the Fund acknowledges a broad range of economic possibilities and investing outlooks, and seeks to incorporate investments appropriate for each of them. Mr. Winmill noted, "Investors who wish to invest all or a portion of their capital in a way that does not depend on any particular outcome for the economy should consider purchasing shares of the Fund."
Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost.
Midas Perpetual Portfolio is subject to the risks associated with market fluctuations, foreign investment, non-diversification, concentration, investments in gold, silver, platinum, and other precious metals, natural resource companies, depletion and exploration risk, in-kind redemptions, Swiss franc assets, real estate companies, and fixed income securities. Prior to December 29, 2008, the Fund (formerly known as Midas Dollar Reserves, Inc.) operated as a money market fund and invested exclusively in securities issued by the U.S. Government, its agencies and instrumentalities. On December 29, 2008, the Fund changed its name from Midas Dollar Reserves, Inc. to Midas Perpetual Portfolio, Inc. and began operating as a fluctuating net asset value fund with the investment objective, strategies, and risks noted above. You should carefully consider the investment objectives, risks, charges and expenses of the Midas Funds by reading the prospectus carefully before investing or sending money. For investment risks associated with each Fund, please read "Principal Risks of Investing in the Fund," and "Additional Investment Risks" in the free prospectus, which contains this and other important information about the Midas Funds. To obtain a copy of the prospectus, please contact us at 1-800-400-MIDAS (6432) or download it at http://midasfunds.com/Midas-Funds-Prospectus.html.
Investment products, including shares of mutual funds, are not federally or FDIC insured, are not deposits or obligations of, or guaranteed by, any financial institution and involve investment risk, including possible loss of principal and fluctuation in value. Consult with your tax advisor or attorney regarding specific tax issues.
One of Midas' guiding principles is that we will communicate with our shareholders and prospective investors as candidly as possible because we believe shareholders and prospective investors benefit from understanding our investment philosophy and approach. Our views and opinions regarding the prospects of our portfolio holdings, Funds, and the economy are "forward looking statements" which may or may not be accurate and may be materially different over future periods. We disclaim any obligation to update or alter any forward looking statements, whether as a result of new information, future events, or otherwise. Thus, you should not place undue reliance on forward looking statements, which also speak only as of the date of the Midas communication.
The Midas Funds are managed by Midas Management Corporation, a subsidiary of Winmill & Co. Incorporated, which is engaged through subsidiaries in stock market and gold investing through its investment management of equity and gold mutual funds. To learn more about the Midas Funds, please visit www.MidasFunds.com.
About Charles Schwab's Mutual Fund OneSource® and Mutual Fund Marketplace®
Schwab's Mutual Fund Marketplace was launched in 1984, providing investors with an easy and economical way to invest in mutual funds. In 1992, Schwab took its boldest step since pioneering the discount brokerage when it introduced the Mutual Fund OneSource program -- the industry's first no-load, no-transaction-fee mutual fund supermarket. Attracting more than $8 billion in its first year, Mutual Fund OneSource was recognized as an innovation that could change the mutual fund industry. Since then, Schwab has made mutual fund investing a central feature of its business.
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Contact Information:
Contact:
Midas Funds
Shareholder Services
1-800-400-MIDAS (6432)
www.MidasFunds.com