New investment product A survey carried out on 150 European pension funds with combined assets under management of US$213 billion indicates that the majority of the surveyed funds expect copper prices to rise during the remaining part of 2021.
The study, which was published by Global Palladium Fund (GPF), “shows that 81% of pension funds think that rising inflation and eco-nomic growth will make copper an even more appealing metal for professional investors, with almost half (49%) looking to overweight their exposure to copper, compared to 21% who expect to be under-weight over the next 12 months,” the organisation said in a statement.
Alexander Stoyanov, the CEO of GPF, commented that copper “prices are positively correlated to inflation, and it is one of the best performing assets during inflationary periods.”
Established by Russia’s MMC Norilsk Nickel, the world’s largest pro-ducer of palladium and high-grade nickel and a major producer of platinum and copper, the GPF is headquartered in London, the UK.