VanEck Global Gold

Objective And Strategy

Objective
Fund seeks long-term capital appreciation by investing in common stocks of gold-mining companies.

Strategy
The Van Eck VIP Global Gold Fund is an actively managed portfolio investing in gold-mining equities. Geologist and Portfolio Manager Joe Foster has been a part of Van Eck’s gold investment team since 1996. The Fund offers exposure to gold, a distinct asset class typically fueled by robust industrial, investment and jewelry demand as well as by ongoing supply constraints. Gold-related investments may provide a hedge against financial assets in volatile markets or inflationary periods. Our specialized investment team conducts continuous on- and under-the-ground research to access mining efficiencies and opportunities.

Principal Risks

* This portfolio is non-diversified, with the potential to invest a greater portion of its assets in a limited number of companies. Consequently, this portfolio may have more risk as changes in the value of a single security may have a more significant effect on the portfolio's net asset value.

* This portfolio invests in securities of foreign issuers which involves risks not typically associated with domestic issuers, including currency fluctuations and the possibility of political and economic instability. Emerging markets involve risks in addition to those generally associated with foreign securities, because political and economic structures in many emerging markets may be undergoing significant evolution and rapid development.

* This portfolio invests (or may invest) in securities of companies with micro-, small-, or mid-capitalization. Any investment in micro-, small-, or mid-capitalization companies involves greater risk than that customarily associated with investments in larger, more established companies because of the greater business risks of smaller size, limited markets and financial resources, narrower product lines, and frequent lack of management depth. As such, micro- or small-cap companies may be more subject to erratic and abrupt market movements than securities of larger, more established companies.

* This portfolio can leverage or use leveraged instruments or derivatives. Portfolios that use leverage, that is, borrow money, are subject to the risk that the cost of borrowing money to leverage will exceed the returns for the securities purchased or that the securities purchased may actually go down in value. Thus, the portfolio's net asset value can decrease more quickly than if the portfolio had not borrowed. Portfolios that use leveraged instruments or derivatives such as futures, options and swap agreements, may expose the portfolio to additional risks that it would not be subject to if it invested directly in the securities underlying those derivatives. The more a portfolio invests in leveraged instruments, the more the leverage will magnify any gains or losses on those investments.

* The value of your investment in a Fund is based on the net asset value ("NAV") of the underlying funds and, in turn, the securities that the underlying funds hold. The Funds are subject to the risk that one or more underlying funds will not perform as expected or will underperform other similar funds or that the combination of underlying funds selected by the Funds' investment will not perform as expected. The Funds will be exposed to all of the risk of an investment in the underlying Funds.

* The price of gold may be volatile and Gold bullion-related ETFs, Underlying Funds, ETNs and derivatives may be highly sensitive to the price of Gold.

* The Portfolio is a new mutual fund and has a limited history of operation. The adviser has not previously managed a mutual fund.