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Investec Enhanced Natural Resources

Ranked 2 out of 4 in - Commodities over 12 months
All calculations are in GBP

Managed by

George Cheveley

George Cheveley graduated from Oxford University with a degree in classics, and also graduated from Warwick University with an MBA. He joined Investec Asset Management in 2007 where he is currently a portfolio manager within the global and commodities & resources team. Prior to this he was manager and market analyst in base metals for BHP Billiton. Before this he worked for CRU (Commodities Research Unit) where he was a research manager. George began his career in 1990 in operations at British Steel Strip Products.

Bradley George

Bradley George graduated from the University of Cape Town with a degree in business science and later completed his Post Graduate Diploma in Accounting (PGDA). He started his career at KPMG in the financial services division where he offered clients consultancy advice on financial derivatives risk management. After three years he joined Goldman Sachs’ investment banking division in natural resources M&A transactions and was also an executive director in the commodities division. After seven years with Goldman Sachs he joined Investec Asset Management in 2006 where he is currently the head of commodities and resources. Bradley has been awarded with the Chartered Accountant designation (CA) from South Africa.

Objective

The Fund aims to achieve long term capital growth primarily through investment in equities issued by companies around the globe that are expected to benefit from a long term increase in the prices of commodities and natural resources, and related derivatives. Such companies will be involved in mining, extracting, producing, processing or transporting a natural resource or commodity or will be companies which provide services to such companies or will be companies whose performance is otherwise related to the prices of resources or commodities.

Performance

Commodities over : 30/11/2013 - 30/11/2014
  • Rank 2/4 Total Return
  • Rank 1/4 Standard Deviation
  • Rank 2/4 Max Drawdown
Fund Name Return
1 F&C Water & Agriculture Long/Short A GBP Inc

-2.9%

2 Investec Enhanced Natural Resources A Acc Net GBP

-4.1%

3 Fulcrum Commodity I GBP

Currency exposure is hedged

Currency exposure is hedged

-11.3%

4 Threadneedle (Lux)-Enhanced Commodities AGH

Currency exposure is hedged

Currency exposure is hedged

-15.3%

Fund Name Risk
1 Investec Enhanced Natural Resources A Acc Net GBP

1.9

2 F&C Water & Agriculture Long/Short A GBP Inc

2.0

3 Fulcrum Commodity I GBP

Currency exposure is hedged

Currency exposure is hedged

2.4

4 Threadneedle (Lux)-Enhanced Commodities AGH

Currency exposure is hedged

Currency exposure is hedged

3.5

Fund Name Loss
1 F&C Water & Agriculture Long/Short A GBP Inc

-5.2%

2 Investec Enhanced Natural Resources A Acc Net GBP

-6.2%

3 Fulcrum Commodity I GBP

Currency exposure is hedged

Currency exposure is hedged

-12.2%

4 Threadneedle (Lux)-Enhanced Commodities AGH

Currency exposure is hedged

Currency exposure is hedged

-20.5%

Total Return

Quarterly Performance

to 30/09/2014 Annual Q1 Q2 Q3 Q4
2014 -2.9% 4.7% -3.1%
2013 -4.5% 3.3% -8.1% 0.8% -0.1%
2012 -4.2% 1.9% -5.4% 2.4% -2.9%
2011 -15.0% -0.3% -1.7% -15.0% 2.0%
2010 21.0% 5.1% -1.7% 3.7% 13.1%
2009 45.3% 16.3% 8.2% 9.1% 5.8%
2008 -22.0% -2.8%

Month by Month Performance

Returns Vs Risk

Asset Allocation

Breakdown

31/10/2014

Top 10 Holdings

Stock Size
ING Bank Time/Term Deposit 6.13
Suncor Energy Inc ORD 5.54
BHP Billiton Ltd ORD 4.37
Chevron Corp ORD 4.22
ConocoPhillips ORD 3.84
Source Physical Palladium P-ETC 3.63
Glencore PLC ORD 3.49
Monsanto Co ORD 3.12
Archer Daniels Midland Co ORD 3.07
BHP Billiton PLC ORD 2.62
31/10/2014

Registered For Sale In

  1. Singapore
  2. United Kingdom

Fund Info

  • Launch date01/05/2008
  • Share Class size134Mn
  • Base currencyGBP
  • ISIN GB00B2QVXH86

Purchase Info

  • Min. initial investment1,000
  • Min. additional investment100

Charges

  • Annual management1.5%
  • Initial investment4.5

Related News

Investec Enhanced Natural Resources

Investec Enhanced Natural Resources managers Bradley George and George Cheveley are stockpiling cash and waiting for natural resources equity valuations to get even cheaper before reinvesting.

Fund ofthe Week: Investec Enhanced Natural Resources

The last few weeks have seen a sharp decline in markets with warning signs from China, the US and now Europe over the health of the global economy.

Why commodities could weather market volatility

Investors should be warned not to overreact to movements in commodities markets, as the fundamentals paint a picture of constraints on supplies and surprisingly strong demand, writes Investec fund manager George Cheveley.

Citywire Selection: who's in and who's out

Following our recent review, we take a look at the performance of our Citywire Selection picks and changes that have taken place.

Case for commodities remains strong in a year of volatility

Fund managers, including Investec's Bradley George and First State's Joanne Warner, are continuing to back commodities as long-term performers against a background of volatile markets, picking out stocks that offer good valuation opportunities.

Why gold, oil and gas will all soar in 2011

Fund managers have tipped gold to break new highs this year, with oil and gas also expected to soar, as sentiment among investors remains favourable and global demand increases.

Experts cast doubt on base metal ETFs

Base metal specialists have warned that a mooted new wave of physically-backed ETFs could flounder because of high costs and a lack of investment demand.

PSigma's Becket turns defensive

PSigma Asset Management’s Tom Becket has moved to protect his portfolio by selling out of illiquid holdings, including Henderson’s UK Property fund, and building up the portfolio’s cash weighting.

Daily View: infrastructure spend can power portfolios says Investec

The West is going to be just as big a driver for the infrastructure sector as the spend from emerging countries says Investec’s Bradley George.

Performance is for the period shown (month end to month end, bid/bid, gross income reinvested, calculated in GBP).