Commodity assets under management rose $19 billion to a record $340 billion last month, led by demand for index-linked investments, Barclays Capital said. Investment flows into products linked to commodity indexes reached $7 billion in October, the bank’s analysts said in a report late yesterday. Total inflows into indexes, medium-term notes and exchange-traded products were $50.6 billion in the year to October, London-based Suki Cooper, Roxana Mohammadian Molina, Kevin Norrish and Amrita Sen wrote in the report. The Federal Reserve has kept its benchmark interest rate near zero since December 2008 and plans to pump another $600 billion into the economy through June by buying government bonds, known as quantitative easing. It purchased $1.7 trillion of securities in a first phase that ended in March. “QE2 has provided a tonic to commodity markets over the past few months that even the re-emergence of sovereign-debt concerns has not entirely canceled out,” the Barclays analysts said in the report. The S&P GSCI Total Return Index of 24 raw materials, tracking the net amount investors received, rose 2.6 percent last month, taking its advance since the end of August to 11 percent. Cotton, corn and sugar had the largest gains and lean hogs, nickel and heating oil were the worst performers.
27 listopada 2010
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