Cazenove's Brookes and McDonald snap up unloved commodities

Cazenove's Marcus Brookes and Robin McDonald have bought back into commodities for the first time since the financial crisis, snapping up funds which have sold off sharply on the back of tumbling commodity prices.

Over the summer the managers of Cazenove's multi-manager range - which includes the popular £1.2bn Cazenove Multi-Manager Diversity fund - built a stake in Neil Gregson's £1.1bn JPM Natural Resources fund. They also invested in the £1.5bn Blackrock Gold & General fund, managed by Evy Hambro. While adding to direct commodity exposure via mining and resources funds, the duo (pictured) have also sold their position in the Aberdeen Emerging Markets fund, with McDonald arguing commodities provide a better way to play the emerging market recovery. "When we were making the switch, the Abe...