The fund invests in a global portfolio of different securities that have positive correlation with inflation or whose value rise as inflation rate increases. The fund normally includes securities in inflation-sensitive sectors. Securities included are precious metals and related equities, industrial, energy and agricultural commodities and related equities, REITs, emerging market currencies, real return bonds, treasury inflation-protected securities (TIPS), and cash. The portfolio is usually rebalanced on a quarterly basis but maybe changed depending on the portfolio advisor. PRA uses risk-parity based asset allocation strategy that targets equal volatility contributions by asset classes held in the portfolio. Also, part of the foreign currency exposure might be hedged back to CAD in the portfolio advisor’s discretion.