No commodities exposure certainly helped Premier Asset Management’s David Hambidge across his range of funds but the manager admitted “it was not all blue sky” given he had been underweight US equities.
Stacey Ash, who runs the Thesis iFunds Spectrum range, also benefited from the decline in commodity prices after investing in an exchange-traded fund that provided positive returns from declining commodity prices.
But Newton’s Christopher Metcalfe, who also performed strongly in 2014, acknowledged he “should have had more in [government] bonds”.
“They are up more than 20 per cent so that has been a detractor for us,” he said.
However, he added that he had chosen strong equity investments and would continue to target these in 2015 as well as infrastructure investments.
