Anglo, Glencore now better buys for PSG
Commodity rout gives portfolio manager Shaun le Roux courage to bet the two firms will emerge as winners
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Johannesburg
THE bloodletting that's gripping commodity markets is giving Shaun le Roux the courage to bet that Anglo American plc and Glencore plc will emerge as winners.
"When there's this much distress, you're going to get mispricing," said Mr Le Roux, whose 2.4 billion rand (S$260 million) PSG Equity Fund beat 97 per cent of its peers with returns of 23 per cent over the past three years, according to data compiled by Bloomberg. "We're focusing on stronger players within the sector that we're confident are going to make it, and that are very cheap."
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