Permanent Portfolio (PRPFX)

Fund Fact Sheet 12-31-09 09-30-09 06-30-2009 03-31-2009 Prospectus Fact Sheet Explanation

Fund Summary The investment seeks to preserve and increase the purchasing power value of its shares over the long term. The fund invests a fixed target percentage of net assets in the following investment categories: gold, silver, Swiss franc assets such as Swiss franc denominated deposits and bonds of the federal government of Switzerland, stocks of U.S. and foreign real estate and natural resource companies, aggressive growth stocks and dollar assets such as U.S. Treasury securities and short-term corporate bonds.

Fund Management Michael J. Cuggino, Lead Manager since 28-Jan-91
Cuggino serves as President, Treasurer and a director of the Fund as well as President and Chief Executive Officer of Pacific Heights Asset Management, LLC. Previously, he served as Treasurer of the Fund since 1993, as a director of the Fund since 1998 and as a consultant to the Funds former investment adviser since 1991. Cuggino holds the Certified public Accountant designation.