Hi
@MarkHGOPAC’s exposure to commodity markets is through Aether, Proterra, ROC Partners and GQG’s allocation to energy stocks.
Here are what I believe PAC’s main exposures to commodities are, but not certain of % of FUM:
- Grains wheat/barley through ROC, Proterra and Aether
- US Oil/Lumber Aether
- Equity allocation Energy GQG
There may be some exposures to the above through Aether, but would not be a significant amount of FUM.
Commercial, Industrial and Housing Real Estate is growing significantly in the US at the moment too. Pennybacker and Banner Oaks will benefit from this uplift. The areas Banner Oaks and Pennybacker invest and participate in are doing significantly well at the moment - Texas, Arizona and others.
Best of Luck
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