"We have increased our gold exposure," Ian Henderson said at at a precious metals conference led by ETF Securities on Thursday.Since mining stocks have tended to underperform relative to gold, Henderson added, the fund is focussing on companies with growing reserves and/or growing production. No names were given.
With risk aversion rising, gold stands out as an asset in which people are still prepared to invest, he said.
"Gold and precious metals exposure is currently around 39%, and we have commensurately reduced our base metals and diversified mining exposure."
Figures detailing the fund's holdings as of end-April show its allocation to gold and precious metals at 34.1%, while base metals and diversified mining was at 31.6% and energy at 26.5%....
Friday, June 4, 2010
JPMorgan Natural Resources Fund Increases Gold Exposure
According to a Moneycontrol.com report, the JPMorgan Natural Resources Fund now has a higher allocation to gold stocks. The shift began at the end of April.