Natural Resources
Portfolio investments will primarily consist of equity securities with substantial natural resource assets, but may also include exchange traded funds (ETF’s) related to commodities and resources. We believe commodities and natural resources will continue to be a major beneficiary of global growth and in particular the rapidly industrializing economies of China, Brazil, India and other developing countries.
In addition, we believe that gold and natural resources should provide a significant hedge and protection against the potential for rising inflation and a declining dollar. Particular emphasis in the investment process is placed on long lived high quality assets, strength and quality of balance sheet, and management track record of building both asset and shareholder value. We also minimize risk by targeting long duration assets (reserves in the ground) in more politically secure regions of the world.