Fund managers cut cash, invest in commodity ETFs

The £17.8m fund, which utilises a proprietary process to identify investment opportunities in commodity-related ETFs, has the capacity to retreat into cash if the system reveals a bleak outlook for the asset class. Managers Nigel Baynes and Stacey Ash, from ETF specialist iFunds, took the cash weighting up to a record 84% during the market turmoil in September last year, but have reduced it to just 3% now. Using the proprietary system, Baynes and Ash have been increasing exposure to a wide range of commodities - including crude oil, heating oil, gasoline and sugar. Despite a ...