Global Investments
International Limited

THE ALIQUOT GOLD BULLION FUND
For information about this fund please download.

In case you hadn't noticed there is a bull market in full swing out there. No, I am not referring to the recent surge in stocks, which many regard as only a tenuous short-term recovery in a long-term bear market. I am talking about a currency; a currency that has been around for well over 4,000 years, that doesn't fit into your wallet and is the only asset that is not a liability against any banks', company's or individual's balance sheet. I am talking about GOLD.

The prices of Gold bullion and Gold mining shares has been rising since late 1999 and have enjoyed a quiet, almost uninterrupted, bull market, unnoticed by many investors, since then. In 2001 it dipped to a low of $258 but is now trading in the $350's range, up over 36%. Show me a better performing investment, with as low a risk/reward ratio, over that period. In 2002 Gold returned 24.8% and it now looks as if many investors are buying as much for it's long-term potential profit as for the safety and security aspect of it.

This year has been a bit of a roller coaster as Gold soared above $382 in February prior to the Iraqi conflict and then, having moved up too far, too fast, corrected to pre-war levels when the main conflict was over. As of the 22/08/03 Gold was around $360 so where to from here? Many experts believe that the bull market in Gold, although already over 2 years old, may well still be in its infancy.

Many believe the US Dollar is on a downward trend. The Dollar and Gold have a highly inverse correlation. As the Dollar loses buying power and declines in value, the price of Gold continues to rise.

If you need further convincing then consider the fact that some of the world's most sophisticated investors, such as Warren Buffet, Bill Gates, George Soros and Nicky Oppenheimer, have already made a commitment to Gold.

Research has shown that holding up to 25% in Gold or Gold shares in a diversified portfolio produced better results than a diversified portfolio without Gold, while the risk decreased.

The last big Gold bull market occurred over 25 years ago and, as a result, investors and some fund managers may be unfamiliar with the dynamics that drive a Gold bull market. But the carnage of the last 20 plus years has simplified the task of who to invest in as so few have survived the Gold bear market as bigger companies gobbled up the smaller and less efficient ones. As the Gold price increases so do the companies' reserves. Investment into the sector turns little companies into medium sized ones and then into larger ones; or the targets for take-over by the big companies. This is happening increasingly but, nonetheless, you still need a good and experienced manager to ensure that the right company shares are being purchased.

"Gold still represents the ultimate form of payment in the world. Germany in 1944 could buy materials during the war only with gold. Fiat (paper) money in extremis is accepted by nobody. Gold is always accepted."

Alan Greenspan, speaking to the House Banking Committee, May 20, 1999

Nothing in this article should be construed as a solicitation to buy or an offer to sell shares in any of the funds/investments mentioned in any jurisdiction where the offer or solicitation would be unlawful under the securities law of the jurisdiction.

A word of warning! Whenever you intend to buy an investment please, please, please make out checks, drafts or TTs to the financial institution concerned. Never make them out to the intermediaries, middlemen or their companies no matter how long you have known them or how much you trust them.

Please remember that past performance is not necessarily a guide to future performance and that the value of units/shares/investments may fall as well as rise.

Please contact Global Investments for more information on Tel. (+66-2) 662-2009 or e-mail at info@globalinv.org.