As concerns over the Syria crisis persist, oil and gold prices have risen, prompting investors to look at commodities as "the only contrarian play left in the market".
WTI Crude oil is currently trading at $108.5 per barrel and Brent has shot up to $115.6, while gold topped the $1,400 mark last week to enter a new bull market. The Thomson Reuters/Jefferies CRB Commodity index has climbed more than 6% from its June trough, up from 275.6 on 28 June to 292.7 on 3 September. Flows data from BofA Merrill Lynch shows investors have begun cautiously returning to commodities in the two weeks to 28 August, after 27 straight weeks of redemptions. Ardevora’s Jeremy Lang, who manages the group’s UK Income fund, is looking to add to his oil holdings, which ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
