INVESTEC GLOBAL ENERGY

This fund invests into a sector which should benefit from the same trends which will drive emerging markets, but where this sector is more obviously undervalued. The fund which has a pedigree back to 1985 (through its offshore mirror fund) is backing the belief that the oil price rises have barely been reflected in the value of oil companies, particularly the larger ones, which are at a discount of about 30-40% to the S&P 500. These larger companies seem to be priced off oil at $50-60, and nothing like the recent high of $100. The oil price might fall with a US slowdown, but the US economy is no longer the key driver of global oil prices. Recent fund manager changes do not concern us. 

Although a higher risk fund, with its narrow focus creating volatility, it is investing into a global sector that is inexpensive. It is a tactical buy for up to 5% of your portfolio. 

To achieve long term capital growth primarily through investment in equities issued by companies around the globe involved in the exploration, production or distribution of oil, gas and other energy sources or companies which service the energy industry.