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Agribusiness ETF outpaces gold fund to become top performer

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The ETFS S-Net ITG Global Agri Business Fund became the best performing ETF Securities equity exchange traded fund since the start of 2009, and the second best performer over the past t

The ETFS S-Net ITG Global Agri Business Fund became the best performing ETF Securities equity exchange traded fund since the start of 2009, and the second best performer over the past three months during the week ending 27 February.

ETF Securities’ Agri Business Fund has risen by ten per cent over the past three months, outperforming the MSCI World index by 24 per cent. Agriculture’s low correlation to the business cycle and strong long-term supply-demand fundamentals appear to be underpinning its strong performance, the firm says.

The gold miners ETF continues to trade at a substantial discount to the underlying gold price, with its ratio to the price of gold 31 per cent below its long run average. ETF Securities believes gold demand is likely to remain strong this year with high political, economic and financial uncertainty driving demand for safe haven assets and defensive themes.

The firm’s energy ETFs, ETFS Stoxx 600 Oil and Gas and ETFS Russell Global Coal, made up two of its five top-performing equity ETFs during the week to 27 February. Energy ETFs have found underlying price support recently, with a 13.5 per cent rise in West Texas Intermediate spot oil prices during the week. The oil ETF is currently trading 28 per cent below its long-run average relative to West Texas Intermediate oil prices.

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