Courtiers in talks with FSA over all-commodities fund

Courtiers Investment Services is in negotiations with the FSA over plans to bring the first UK-approv...

Courtiers Investment Services is in negotiations with the FSA over plans to bring the first UK-approved all commodities fund to the retail market. CIO Gary Reynolds, who would manage the fund alongside Caroline Shaw, said: “We have submitted proposals to the FSA as to why the fund should be able to invest in a basket of commodities.” Under current rules, no more than 10% of an Oeic can be invested directly in commodities. The new product would hold a range of hard and soft commodities, including gold, silver, copper, oil, gas, wheat and maize. It would take advantage of the protection a...