15.10.2013 - Cazenove makes commodities play
Cazenove’s multi-managers have added positions in the BlackRock Gold & General and the JPMorgan Natural Resources funds, in anticipation of what they see as the next stage in the global recovery. Robin McDonald, co-manager of Cazenove’s multi-manager range, said his team had added the JPMorgan product as a replacement for a holding in the Aberdeen Emerging Markets fund. “If there has been a bull market in the past five years, it has been in the emerging markets consumer area,” he said. “These companies are overearning, while natural resources [companies] are underearning.”..............................................Full Article: Source
Print