Jersey based fund manager, Richard Robinson, has secured a top ranking for the performance of the Global Energy Fund that he manages.
Richard, who has been energy investment specialist at Ashburton Investments in Jersey for 12 years, has been given a Citywire AA Fund Manager Rating, the highest of any manager in the commodities funds sector awarded by Citywire, a leading independent information provider of news for professional advisers and investors around the world.
Earlier this year the fund was given a five-star rating by investment research company, Morningstar, one of only two funds to receive the highest five-star rating. The Luxembourg domiciled UCITS Fund is ranked number one in its peer group since inception in its sector (C share class) and now has assets of US$40 million under management.
In his latest insight commentary on the energy sector, Richard points to the recent change of policy by OPEC with its first production cut in eight years, although the announced cut was a surprise to markets, there were significant signs of production exhaustion. There was therefore, Richard believed, a high chance that OPEC production was about to slow anyway. The markets are expecting to find out which countries will carry the major burden for the cuts in OPECs next meeting at the end of November, with Saudi Arabia looking favourite to reduce the most (probably accompanied by Kuwait and the UAE).
‘It will also likely mean that short-cycle shale producers in the US will be called upon to meet demand growth. We have already started seeing budding signs of (this) with the upturn in US rig counts, primarily in the Permian basis. Consequently, the call on OPEC has categorically been shifted across the seas to the US, something we are invested to capture within the Fund.’
See link for additional commentary from Richard:
Photo: Richard Robinson