7IM returns to broader commodities for first time in five years but shuns gold

Last held in 2013

Seven Investment Management (7IM) has made its first move into general commodities since 2013, as the group believes they "can earn their keep in portfolios once again".

The group has made a number of changes to its multi-asset portfolios including taking new holdings in broader, energy-linked, agricultural and industrial commodities for the first time since February 2013. It said the broad commodities market has fallen since then by around 30% due to the poor performance of the energy sector between 2014 and 2016, but this has been turning around more recently.  Manager Matthew Yeates said: "There are good arguments for returning to broad commodities, which give portfolios exposure to inflation-linked assets. "In historical periods such as 1994, c...