Citywire Selection Verdict: This popular trust has managed to stay ahead of the declining world mining index over last few months. The supply side continues to be challenged by both short term factors (ie weather) and long term factors (ie labour shortages and grade declines). These structural issues help commodity prices especially when demand remains strong. Mining companies and other cyclical areas have struggled over the last two years as the market has lowered global growth outlooks. The trust focuses on companies with high asset quality and balance sheet strength. Predominantly invested in large diversified miners, it also has stakes in gold and silver companies.
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