UK managers retain confidence in commodities

While commodity prices have displayed continued volatility since the start of the year UK fund manag...

While commodity prices have displayed continued volatility since the start of the year UK fund managers remain confident in the strength of their resource holdings. Todd Warren, portfolio manager global resources at First State, said the sentiment shift against commodities was sparked by copper prices coming under pressure. “Commodities markets have enjoyed high gains in the five-year bull market, but copper is dropping and it appears to be bringing base metals down with it,” he said. “Chinese imports have decreased and London Metal Exchanges inventory levels are up. However, the leve...