Heinz Blasnik- Views You Can Use Message Board

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Strategies & Market Trends : Heinz Blasnik- Views You Can Use

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To: Joan Osland Graffius who wrote (3398)	8/13/2003 2:20:50 AM
From: Sexton O Blake	Read Replies (1) of 4905

Question for you Joan. You said you own some of the QRACX? From visiting the site and reviewing what the fund manager says: Fund Manager Angelo Manioudakis: "We invest in securities that imitate the performance of commodities. Based on where we believe the economy to be in the business cycle, we will allocate assets to certain broad commodity sectors. In this way, the fund provides a unique opportunity for investors to add additional diversity and growth potential to their long-term investment portfolios. Our goal is to offer competitive performance against our investment benchmark, the Goldman Sachs Commodity Index (GSCI)." - I was turned off by Mutual fund companies in Canada that did this sort of "mimicing". I wanted "X" and their name said "X" buy they bought "Y" which (how is beyond me) "mimiced the performance of X". My eyebrow shot up.. - I didn't look at the Perspectus but the basic information shown points to no positions in any commodities (their other funds - like Gold and Minerals - shows listed companies) - The only other angle I read into this is.. when the time is right they will invest in commodities; but until that time they have investments in securities that act as commodities. But then they further say: What We Look For: * Securities that mimic the performance of commodities. * Short-term fixed income instruments to provide liquidity. * Current supply and demand imbalances which could affect the value of certain investments. .... doesn't say "we look for the right time to invest in a broad range of commodities". - Yahoo! portfolio shows BONDS/CASH and no actual commodities - I am looking for a play on commodities; but don't want to worry about the mechanics and figured this might be a play. But I really want something that is "IN" commdities 24/7. Anyways, your thoughts? Thanks Joan SoB

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