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Fundamental offers energy with a slant on service

Specialist energy investment manager Fundamental Asset Management has introduced the SF fundamental energy fund, an Oeic investing mainly in global blue chip companies that provide equipment and services to the energy sector.

The fund is a new version of a previous fund launched in 2009 that followed a more cautious approach. It had bigger weightings in corporate bonds and income yielding equities than the new fund.

Fundamental Asset Management believes firms that provide equipment and services to the energy sector will be first in line to benefit from growth in the sector. It points out that global demand for energy is increasing, with the Bric economies in particular consuming more energy as they grow rapidly.  

Fundamental says that to meet this growing demand,  investment is being made in the oil and commodity sectors to catch up after previous decades of underinvestment  but energy sources are becoming harder to extract from the ground. This means that depleting sources are having to be replaced by searching for oil reserves in deeper and harsher environments, creating opportunities for providers of equipment and services. These firms are also benefiting from the need for spending on infrastructure improvements that are necessary to make up for the previous lack of investment.

Alternative energy sources are also providing good investment opportunities as the world needs to find renewable sources to ease its dependence on fossil fuels.

The new fund will be managed by joint chief executive Christoper Boxall, who is supported by fellow joint chief executive Stephen Drabwell, equity analyst Mark Dichlian and energy industry specialists Roger Doery, Matthew Kelley and Dr Robert Kenison. Boxall and Drabwell both worked at Washington Financial Group before moving to their current roles at Fundamental in 2004.

This fund has a specific angle on the energy sector in its pursuit of service and equipment providers rather than the big energy firms such as Shell and BP., which could attract interest from advisers.

However, the new global energy fund from Artemis, which aims to benefit from similar themes in the energy sector, could provide competition because advisers may be more familiar with the firm and its fund manager John Dodd.


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