The fund aims to participate in the price movement of gold by investing in a combination of gold bullion ETFs and gold futures. The actively managed portfolio hedges the foreign currency exposure back to Canadian dollars and may hold ETFs that are managed by an affiliate of the Manager. The fund employs a covered call option writing strategy to generate additional income, mitigate downside risks and lessen the volatility involved in a portfolio with exposure to the gold prices. The fund can participate in security lending, provided that the collateral from securities lending have a minimum aggregate value of 102% of the loaned securities. HGY will not use leverage, it will not borrow money, employ financial leverage or invest in any securities for the purposes of gaining leverage.