More commodity fund growth seen
June 15, 2007
by Josh Sosland
SHANGHAI — As measured by the activity of ABN Amro Holding NV, the commodity fund business is continuing to grow rapidly in 2007. A Shanghai-based executive of ABN Amro told Bloomberg News Service on June 14 that the Dutch bank will sell $500 million of commodity products this year, five times the level of sales in 2006. The products will be designed as "hedge-fund type strategies," seeking to offer potential gains from either rising or declining markets, Bloomberg said. Citing Cole Asset Management, the news service estimated commodity hedge fund assets under management will rise to about $35 billion by the end of 2007. Above and beyond these hedge funds, ABN Amro markets commodities indexes established by Jim Rogers.