Written by Matthew Page, Co-manager of the Alternative Energy Fund
Excerpt from Ethanol Report:
Ethanol: Fuel for thought.
The sun, rich mid-America farmland, water and a little patience. These simple, wholesome ingredients combine to form what has been dubbed an energy savior: ethanol. Ethanol seems almost a miraculous solution to our energy problems. But is it? Can ethanol replace gasoline as the transportation fuel of choice in the U.S.? Or is it more of a contributory element in reducing dependence on oil? And what impact does growing corn for fuel have on the global food supply? The only thing growing faster than ethanol production are the predictions for future ethanol production and usage. In this report we provide background information on ethanol--what it is, its history, supply and demand and its economics--and examine the prospects for ethanol going forward.
The information provided herein represents the opinion of Matthew Page and is not intended to be a forecast of future events, a guarantee of future results, nor investment advice.
The Fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the Fund and it may be obtained by calling (800) 915-6565 or visiting the Fund’s website at www.gafunds.com. Please read it carefully before investing.
The Fund invests in foreign securities which will involve political, economic and currency risks, greater volatility and differences in accounting methods. The Fund is non-diversified meaning its assets may be concentrated in fewer individual holdings than diversified funds. Therefore, the Fund is more exposed to individual stock volatility than diversified funds. The Fund also invests in smaller companies, which will involve additional risks such as limited liquidity and greater volatility.
Distributed by Quasar Distributors, LLC, (10/07).
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