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Alternative Market Briefing

Commodities lag stock markets over the past six months

Tuesday, April 17, 2012

Precy Dumlao, Opalesque Asia: Switzerland-based commodities-focused asset management firm Tiberius Asset Management reports that over the past six months, the commodities space has underperformed the U.S. stock markets by almost 30% on the aggregate. As expected, commodities once again lagged behind the international stock markets in March in terms of price performance. The Dow Jones UBS commodity index retreated by slightly more than -4%, while the S&P 500 and the Nikkei 225 managed to advance by just over 3%.

In its Tiberius Asset Management monthly commentary, Tiberius attributed this to the weak economic data coming from the Asian emerging economies. It cited that the Chinese commodity markets appeared to be abundantly supplied following extensive restocking in Q4 2011. "Given this uncertain macroeconomic outlook, we have reversed our long bias for the long-only funds and temporarily scaled back our investment ratio from 105-110% to 90-95%," Tiberius said in its commentary.

The asset manager commented in its report, "Relative to their respective benchmark indices, our long-only funds turned in slightly negative results in March 2012. Thus, Commodity Alpha OP (CA$) lost -0.71% relative to the DJUBS index, while Tiberius Commodity Alpha Euro OP (CAÄ) gave up -0.81%. Tiberius Active Commodity OP (TAC), wh......................

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