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Commodities more or less delivering as expected

Authors of 2006 paper update their study with data from 2005 to 2014, saying original findings do hold up

New York

THE great commodities gold rush of the last decade may not have paid off exactly as investors hoped, but some evidence indicates that the asset class is performing more or less as advertised.

Commodities, commonly accessed by investing in exchange-traded commodities futures contracts, gained hugely in popularity in the first part of the last decade, as investors sought access to an asset class that they thought would give them equity-like returns, diversification and a decent risk profile.

Many investors also bet that the rise in living standards in China and other rapidly developing countries would drive demand and help returns.

But a disappointing run of results, especially during and...

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