Foxhall Gold and Precious Metals Fund prepares for launch

By Toni Weeks

San Diego, Feb. 16 - Dominion Funds, Inc. announced in an N-1A filing with the Securities and Exchange Commission its plans to offer a new fund that invests in the gold and precious metals mining industry.

The Foxhall Gold and Precious Metals Fund will seek capital appreciation by investing at least 80% of its net assets in equity and equity-related securities of companies principally engaged in the mining, fabrication, processing or distribution of gold or in the development of gold mines. The company may invest up to 20% of its net assets in companies similarly engaged in silver, platinum, palladium or other precious metals.

Paul Dietrich will be the primary portfolio manager for the fund.

There will be no shareholder fees. Management fees will be 1%, and total annual fund operating expenses are expected to be 1.99%.

The fund's investment adviser is Middleburg, Va.-based Washington Asset Management II, LLC.

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