Luis moves back into energy on positive outlook for oil

Fatima Luis has invested into the energy services sector for the first time in at least 12 months on a positive outlook for oil.

Exposure on the F&C Strategic Bond fund was negligible a year ago and has been up to 10% since then, before settling around its current 7%. Luis says: “This is an area we are investing in from a high yield perspective as we believe billions will be spent in the sector. “The outlook for oil is pretty positive for 2011. There is high demand from the major oil corporations, and from smaller exploration and production players, for oil services as new oil and gas fields are being developed globally. “Petrobras, for example, has a very large capex program over the next five years to deve...