Strategy
Investment Objective
To increase the value of its shares, over the long term, through growth in the value of its investments. The fund invests mainly in a widely diversified portfolio of stocks of natural resources or commodities-related companies. The companies may be anywhere in the world, including emerging markets.Investment Approach
- Focus on well-managed companies that own or develop natural resources and other basic commodities with attractive long-term supply-demand fundamentals.
- Invest in companies that operate “downstream” from these resources, e.g., refining, paper manufacturing, steel fabrication, and petrochemicals.
- The portfolio invests in resource companies on a global basis including — international energy, forest products, mining, and commodities.
- Assessment of resource/commodity cycle, industry valuation, and company fundamentals is key.
- Broadly diversify holdings to manage portfolio risk profile relative to highly concentrated energy or gold strategies.
- Environmental, social and governance ("ESG") factors with particular focus on those considered most likely to have a material impact on the performance of the holdings or potential holdings in the funds’ portfolio are assessed. These ESG factors, which are incorporated into the investment process alongside financials, valuation, macro-economics and other factors, are components of the investment decision. Consequently, ESG factors are not the sole driver of an investment decision but are instead one of several important inputs considered during investment analysis.
Past performance is not a reliable indicator of future performance.
Risks
Typical Investor
Investors who plan to invest for the medium to long term, and who:
• are interested in investment growth
• are looking to diversify their equity investments, especially in periods of accelerating inflation
• understand and can accept the risks of the fund, including the risks of investing in equities and in commodities