UNITED STATES
SECURITIES & EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. )*
CurrencyShares British Pound Sterling Trust
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(Name of Issuer)
Redeemable Capital Shares
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(Title of Class of Securities)
23129S 10 6
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(CUSIP Number)
May 8, 2008
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(Date of event which requires filing of this statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule 13G is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
(Page 1 of 8 Pages)
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* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934
("Act") or otherwise subject to the liabilities of that section of the Act but
shall be subject to all other provisions of the Act (however, see the Notes).
CUSIP No. 23129S 10 6 13G Page 2 of 8 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Hussman Strategic Total Return Fund, an investment portfolio of
Hussman Investment Trust 55-0787206
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) | |
(b) | X |
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Ohio U.S.A.
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5 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 75,000
EACH ---------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 0
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8 SHARED DISPOSITIVE POWER
75,000
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
75,000
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* | |
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
16.67%
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12 TYPE OF REPORTING PERSON*
IV
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CUSIP No. 23129S 10 6 13G Page 3 of 8 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Hussman Econometrics Advisors, Inc. 38-3083913
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) | |
(b) | X |
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland U.S.A.
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5 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 75,000
EACH ---------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 0
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8 SHARED DISPOSITIVE POWER
75,000
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
75,000
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* | |
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
16.67%
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12 TYPE OF REPORTING PERSON*
IA
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CUSIP No. 23129S 10 6 13G Page 4 of 8 Pages
Item 1(a). Name of Issuer:
The name of the issuer is CurrencyShares British Pound Sterling Trust (the
"Issuer").
Item 1(b). Address of Issuer's Principal Executive Offices:
Rydex Investments, 9601 Blackwell Road, Suite 500, Rockville, Maryland
20850
Item 2(a). Name of Person Filing:
This statement is filed by:
(i) Hussman Strategic Total Return Fund (the "Fund"), an investment
portfolio of Hussman Investment Trust (the "Trust"), an open-end management
investment company, with respect to the Capital Shares directly owned by it; and
(ii) Hussman Econometrics Advisors, Inc. (the "Adviser"), a Maryland
corporation, with respect to the Capital Shares directly owned by the Fund.
The foregoing persons are hereinafter sometimes referred to collectively
as the "Reporting Persons." Any disclosures herein with respect to persons other
than the Reporting Persons are made on information and belief after making
inquiry to the appropriate party.
Item 2(b). Address of Principal Business Office or, if None, Residence:
The address of the business office of each of the Reporting Persons is c/o
Ultimus Fund Solutions, LLC, 225 Pictoria Drive, Suite 450, Cincinnati, Ohio
45246.
Item 2(c). Citizenship:
The Trust is an unincorporated business trust that was organized under
Ohio law on June 1, 2000. The Adviser is a Maryland corporation.
Item 2(d). Title of Class of Securities:
Redeemable Capital Shares
CUSIP No. 23129S 10 6 13G Page 5 of 8 Pages
Item 2(e). CUSIP Number:
23129S 10 6
Item 3. If this statement is filed pursuant to Rules 13d-1(b) or 13d-2(b) or
(c), check whether the person filing is a:
(a) [ ] Broker or dealer registered under Section 15 of the Act,
(b) [ ] Bank as defined in Section 3(a)(6) of the Act,
(c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act,
(d) [x] Investment Company registered under Section 8 of the Investment
Company Act of 1940, [with respect to the Trust]
(e) [x] Investment Adviser in accordance with Rule 13d-1 (b)(1)(ii)(E),
[with respect to the Adviser]
(f) [ ] Employee Benefit Plan or Endowment Fund in accordance with 13d-1
(b)(1)(ii)(F),
(g) [ ] Parent Holding Company or control person in accordance with Rule
13d-1 (b)(1)(ii)(G),
(h) [ ] Savings Association as defined in Section 3(b) of the Federal
Deposit Insurance Act,
(i) [ ] Church Plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act of 1940,
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to 13d-1(c), check this box: [ ]
Item 4. Ownership.
A. Hussman Strategic Total Return Fund
(a) Amount beneficially owned: 75,000
(b) Percent of class: 16.67% The percentages used herein and in
the rest of Item 4 are calculated based upon the 450,000
Capital Shares issued and outstanding as of May 8, 2008 as
reflected in the Form 10-Q for the quarterly period ended
April 30, 2008 filed by the Company on June 13, 2008.
CUSIP No. 23129S 10 6 13G Page 6 of 8 Pages
(c)
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 75,000
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition:
75,000
B. Hussman Econometrics Advisors, Inc.
(a) Amount beneficially owned: 75,000
(b) Percent of class: 16.67% The percentages used herein and in
the rest of Item 4 are calculated based upon the 450,000
Capital Shares issued and outstanding as of May 8, 2008 as
reflected in the Form 10-Q for the quarterly period ended
April 30, 2008 filed by the Company on June 13, 2008.
(c)
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 75,000
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition:
75,000
The Fund has the power to dispose of and the power to vote the Capital
Shares beneficially owned by it, which power may be exercised by its adviser,
Hussman Econometrics Advisors, Inc. By reason of the provisions of Rule 13d-3 of
the Securities Exchange Act of 1934, the Adviser may be deemed to beneficially
own the Capital Shares owned by the Fund.
Item 5. Ownership of Five Percent or Less of a Class.
Not applicable.
CUSIP No. 23129S 10 6 13G Page 7 of 8 Pages
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Hussman Econometrics Advisors, Inc. has the power to direct the affairs of
the Fund, including decisions respecting the disposition of the proceeds from
the sale of the Capital Shares.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
Not applicable.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
Each of the Reporting Persons hereby makes the following certification:
By signing below each Reporting Person certifies that, to the best of its
knowledge and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or
effect.
CUSIP No. 23129S 10 6 13G Page 8 of 8 Pages
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
DATED: June 23, 2008
HUSSMAN INVESTMENT TRUST
By:
/s/ John P. Hussman
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Name: John P. Hussman
Title: President
HUSSMAN ECONOMETRICS ADVISORS, INC.
By:
/s/ John P. Hussman
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Name: John P. Hussman
Title: President
CUSIP No. 23129S 10 6 13G
EXHIBIT 1
JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13d-1(k)
The undersigned acknowledge and agree that the foregoing statement on
Schedule 13G, is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13G, shall be filed on
behalf of each of the undersigned without the necessity of filing additional
joint acquisition statements. The undersigned acknowledge that each shall be
responsible for the timely filing of such amendments, and for the completeness
and accuracy of the information concerning him or it contained therein, but
shall not be responsible for the completeness and accuracy of the information
concerning the others, except to the extent that he or it knows or has reason to
believe that such information is inaccurate.
DATED: June 23, 2008
HUSSMAN INVESTMENT TRUST
By:
/s/ John P. Hussman
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Name: John P. Hussman
Title: President
HUSSMAN ECONOMETRICS ADVISORS, INC.
By:
/s/ John P. Hussman
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Name: John P. Hussman
Title: President