Commodities

Angelos Damaskos, manager of the £54m Junior Oils Trust, has bucked the trend to move defensive over the summer by increasing his equity exposure by 20%.

BHP BUY COULD DRIVE M&A

Veteran investor Jim Rogers is long the euro in his portfolio as he expects the eurozone to survive the sovereign debt crisis.

Nervous markets were further soothed yesterday as Greek MPs passed a law to implement strict austerity measures in a second round of voting.

The oil price fell by $6 after the International Energy Agency (IEA) said it would make available an extra 60m barrels.

Clive Burstow, a former analyst at Cazenove, has rejoined the group to work on its Global Resources fund.

Newton's Asian Income manager Jason Pidcock is favouring commodity-related stocks, a sector normally avoided by income seekers in the UK.

JP Morgan has launched a sterling hedged share class for its Diversified Commodities fund run by it alternatives arm, Highbridge Capital Management.

Multi-managers at OPM Fund Management are targeting funds in emerging markets and energy sectors in the recently-launched Worldwide Opportunities fund.

Nathaniel Rothschild emphasised his status as one of the most powerful brokers in the booming commodities market yesterday as he unveiled plans to raise £1bn in just 11 days.