GHAIXGlobal Hard Assets Fund - Class I
By: Shawn Reynolds, Portfolio Manager
The Global Hard Assets Fund commentary includes a review of the prominent trends in natural resources and commodities over the previous quarter, a look at the key drivers of Fund performance, and an update on current positioning.
Videos on Hard Assets
Natural Resources Outlook and Role in the Global Recovery
Portfolio Manager Shawn Reynolds shares his views on what’s in store for natural resources in the remainder of 2020 and heading into 2021, across traditional and alternative energy, mining and agriculture.
Alternative Energy Investing: Spotlight on Solar
Portfolio Manager Shawn Reynolds discusses alternative energy investing, how it became one of the largest exposures in our natural resources equity strategy and key holdings like Sunrun, SolarEdge and Neste.
Commodities Outlook: Watch the Dollar and Copper Demand
Portfolio Manager and Commodity Strategist
Portfolio Manager and Commodity Strategist Roland Morris discusses the macro trends he’s watching in the near term as well as the commodities he’s following closely through the remainder of the year.
Energy: From Production Cuts to Alternative Opportunities
West Texas Intermediary crude oil prices fell below $0 per barrel on April 20th- a clear indication that inventories have reached their max. With June 2020 oil contracts trading above $20 per barrel, it would seem that, for now, oil markets are operating on the same type of rolling, month-by-month timeline as the rest of the broader economy. As more certainty is established on both supply and demand over the next several months, prices could conceivable rebound just as dramatically as they have declined. Until then, we believe those companies with solid balance sheets and excellent (low cost) execution should be able to survive.
Transformation and Innovation in Natural Resources
Portfolio manager Shaw Reynolds talks about transformation in the corporate world of hard assets, natural resource, and commodity companies. Business model innovation and the return of capital to shareholders increase the relevance of companies in the broader market.
Market Dynamics and Capital Allocation Drive Metals Outlook
Senior Analyst Charl Malan discusses key drivers behind global demand for certain industrial metals as well as challenges in sustaining supply and the impact these dynamics have on the outlook for this space over the next few years.
Hard Assets Defined: Foundation of Industrial Economies
“Hard assets” refers to the natural resources or commodities that are mined, exploited, harvested or otherwise procured globally.
Hard assets have traditionally been grouped into five broad categories:
Oil, natural gas, electricity, coal, and new/renewable alternative energy sources
2) Precious Metals
Gold, silver, palladium and platinum
3) Base/Industrial Metals
Copper, aluminum, steel, iron and nickel
Corn, wheat, sugar and water
Timber, pulp and paper