06.09.2016 - Fund Review: Energy
Energy funds have been struggling to deliver returns against a turbulent backdrop. Oil prices were on a downward trend by the end of 2015 and have been fluctuating this year before settling below $50 a barrel. The turbulence dates back to November 2014, notes Robert Crayfourd, portfolio manager of the New City Energy investment trust, “when Opec decided it would no longer act as the market stabiliser”. In Indosuez Wealth Management’s analysis and asset allocation paper for the third quarter of 2016, it points out the slide in the price of West Texas Intermediate (WTI) oil reached a low of $26.2 a barrel on February 11, resulting in a sharp drop in US production...............................................Full Article: Source
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