Natural resources equities: the growth opportunity that markets are (still) missing

A disorderly transition

Evidence suggests the transition to a low-carbon economy will be disorderly. By allocating to ‘transition assets’, investors can mitigate some of the disorder, while potentially generating positive outcomes for their portfolios. This paper makes the case for transition investing, and explains how to identify a true ‘transition asset’.

Eye of the storm: investing in commodities

Oil and gas have been the focus of attention. But powerful currents in natural-resource markets are creating opportunities for investors across the full spectrum of commodities.

Transition-makers: Capturing new dynamics in commodity markets

Efforts to tackle climate change are driving powerful trends in markets for many natural resources, from metals to fossil fuels – and in the equities of companies that produce them. That’s creating new opportunities for investors.

Turbulent times: where next for commodities?

From energy to iron ore, commodity markets have experienced some startling moves in recent weeks, with potential impacts on companies and consumers everywhere. Our team assesses the outlook for some of the key materials markets.

Trade tariffs and geopolitics could sustain gold’s shine in 2025

Gold shone in 2024, and the sector appears poised to maintain its appeal as an investment opportunity. George Cheveley examines the factors influencing the commodity sector in the year ahead.

Five reasons to allocate to natural resources equities (it’s not just about inflation!)

We see five compelling reasons for investors to revisit natural resources equities.

US election shakes up commodity markets; spotlight on China and trade policies 

While US equity markets reacted favourably, commodity markets remained more cautious. Much hinges on Trump’s stance on international relations – including towards Iran, Russia, China – and its impact on the global economy and, consequently, global commodity prices.

Keep active in a bearish oil market

The prospects for oil appear positive on a five-year view, not least because US shale supply could plateau in the next few years. However, investors will need to be careful in 2025, because demand worries and supply growth add up to a bearish outlook. As portfolio manager Paul Gooden explains, there are still opportunities, but active management will be key.

Notes from the road - Why investors should take heart from a ‘sober’ gold-sector gathering

Gold is at record highs. Yet attendance at the biggest annual gold-industry conference was well below average and the mood was subdued. This says something useful about the mindset in the gold sector – and what investors can expect from here.

What the gold price is telling us

Gold has defied rising bond yields to trade in a range rarely seen before. Is there more in the price than a ‘war premium’? There are reasons to think so. The precious metal may be able to sustain higher prices.

What the market is getting wrong

Macro worries have created a useful entry point into natural resources equities. This part of the stock market is often misunderstood, presenting value opportunities for selective investors.

Global Insights 2023

2023 has been a year of defining change, with much of the world adapting to higher interest rates. See below for key takeaways from the sessions with our portfolio managers.

Agriculture is vast, varied, and vital

The agri economy is vast, varied and strategically vital. It has also developed a reputation as being environmentally unfriendly on a global scale, but things are changing as primary agricultural businesses and an array of ancillaries mend their ways. Dawid Heyl explains and details the resultant opportunities.

Podcast: Summertime blues in the oil market

These are uneasy times in the oil market. The OPEC+ group met again in Vienna last week alongside oil industry chief executives and the stakes are high. Tom Nelson, Head of Thematic Equities discusses with Lindsay Williams.

Summertime blues in the oil market

If at first you don’t succeed, try, try again, says Tom Nelson, Head of Thematic Equities and Co- Portfolio Manager of Global Natural Resources.

In conversation: A disorderly transition

To get to net-zero we have to finance the high emitting sectors and regions from a state of high carbon to a state of low carbon. The path to getting there is not simple or clear. Head of Thematic Equity Tom Nelson and Sustainability Specialist Annika Brouwer discuss the disorderly transition that is underway.

A disorderly transition

Evidence suggests the transition to a low-carbon economy will be disorderly. By allocating to ‘transition assets’, investors can mitigate some of the disorder, while potentially generating positive outcomes for their portfolios. This paper makes the case for transition investing, and explains how to identify a true ‘transition asset’.

Eye of the storm: investing in commodities

Oil and gas have been the focus of attention. But powerful currents in natural-resource markets are creating opportunities for investors across the full spectrum of commodities.

Transition-makers: Capturing new dynamics in commodity markets

Efforts to tackle climate change are driving powerful trends in markets for many natural resources, from metals to fossil fuels – and in the equities of companies that produce them. That’s creating new opportunities for investors.

Turbulent times: where next for commodities?

From energy to iron ore, commodity markets have experienced some startling moves in recent weeks, with potential impacts on companies and consumers everywhere. Our team assesses the outlook for some of the key materials markets.

Trade tariffs and geopolitics could sustain gold’s shine in 2025

Gold shone in 2024, and the sector appears poised to maintain its appeal as an investment opportunity. George Cheveley examines the factors influencing the commodity sector in the year ahead.

Five reasons to allocate to natural resources equities (it’s not just about inflation!)

We see five compelling reasons for investors to revisit natural resources equities.

US election shakes up commodity markets; spotlight on China and trade policies 

While US equity markets reacted favourably, commodity markets remained more cautious. Much hinges on Trump’s stance on international relations – including towards Iran, Russia, China – and its impact on the global economy and, consequently, global commodity prices.

Keep active in a bearish oil market

The prospects for oil appear positive on a five-year view, not least because US shale supply could plateau in the next few years. However, investors will need to be careful in 2025, because demand worries and supply growth add up to a bearish outlook. As portfolio manager Paul Gooden explains, there are still opportunities, but active management will be key.

Notes from the road - Why investors should take heart from a ‘sober’ gold-sector gathering

Gold is at record highs. Yet attendance at the biggest annual gold-industry conference was well below average and the mood was subdued. This says something useful about the mindset in the gold sector – and what investors can expect from here.

What the gold price is telling us

Gold has defied rising bond yields to trade in a range rarely seen before. Is there more in the price than a ‘war premium’? There are reasons to think so. The precious metal may be able to sustain higher prices.

What the market is getting wrong

Macro worries have created a useful entry point into natural resources equities. This part of the stock market is often misunderstood, presenting value opportunities for selective investors.

Global Insights 2023

2023 has been a year of defining change, with much of the world adapting to higher interest rates. See below for key takeaways from the sessions with our portfolio managers.

Agriculture is vast, varied, and vital

The agri economy is vast, varied and strategically vital. It has also developed a reputation as being environmentally unfriendly on a global scale, but things are changing as primary agricultural businesses and an array of ancillaries mend their ways. Dawid Heyl explains and details the resultant opportunities.

Podcast: Summertime blues in the oil market

These are uneasy times in the oil market. The OPEC+ group met again in Vienna last week alongside oil industry chief executives and the stakes are high. Tom Nelson, Head of Thematic Equities discusses with Lindsay Williams.

Summertime blues in the oil market

If at first you don’t succeed, try, try again, says Tom Nelson, Head of Thematic Equities and Co- Portfolio Manager of Global Natural Resources.

In conversation: A disorderly transition

To get to net-zero we have to finance the high emitting sectors and regions from a state of high carbon to a state of low carbon. The path to getting there is not simple or clear. Head of Thematic Equity Tom Nelson and Sustainability Specialist Annika Brouwer discuss the disorderly transition that is underway.

A disorderly transition

Evidence suggests the transition to a low-carbon economy will be disorderly. By allocating to ‘transition assets’, investors can mitigate some of the disorder, while potentially generating positive outcomes for their portfolios. This paper makes the case for transition investing, and explains how to identify a true ‘transition asset’.

Eye of the storm: investing in commodities

Oil and gas have been the focus of attention. But powerful currents in natural-resource markets are creating opportunities for investors across the full spectrum of commodities.

Transition-makers: Capturing new dynamics in commodity markets

Efforts to tackle climate change are driving powerful trends in markets for many natural resources, from metals to fossil fuels – and in the equities of companies that produce them. That’s creating new opportunities for investors.

Turbulent times: where next for commodities?

From energy to iron ore, commodity markets have experienced some startling moves in recent weeks, with potential impacts on companies and consumers everywhere. Our team assesses the outlook for some of the key materials markets.

Natural resources equities: the growth opportunity that markets are (still) missing

Ellie Clapton

Authored by

Ellie Clapton

Portfolio Specialist

Global Natural Resources - latest insights

Trade tariffs and geopolitics could sustain gold’s shine in 2025

Five reasons to allocate to natural resources equities (it’s not just about inflation!)

US election shakes up commodity markets; spotlight on China and trade policies

Keep active in a bearish oil market

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US election shakes up commodity markets; spotlight on China and trade policies 