New Star Fof manager is preferring single-commodity funds over available agriculture portfolios
New Star's fund of funds head Mark Harris plans to continue juggling individual commodity exchange-traded funds (ETFs) rather than buying any of the agriculture funds currently available. On the group's Tactical Portfolio, he has sold holdings in a North American financial-sector tracker, and is now focusing on commodities and emerging markets as major sources of return. "The problem with soft commodities is that there does not tend to be any underlying equities available to buy," he said. "But ETF Securities has launched a number of exchange-traded commodities, allowing us to buy wheat,...
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