A Van Eck
] fund that invests in global resources is riding out the volatile commodities market, the Wall Street Journal reports
, PM of the Van Eck Global Hard Assets Fund
, told the pub that he takes a bottom up approach to the market and tries to pick the best stocks that can perform under any commodity price. As of Feb. 28, 65.6 percent of the fund's holdings were reportedly in energy, compared with an average of roughly 50 percent for its peer group. Reynolds currently favors "unconventional" oil plays in North America, such as Brigham Exploration Co., Cimarex Energy Co. and Pioneer Natural Resources Co., as well as such oil-service companies as Weatherford International Ltd. and Halliburton Co.
The fund reportedly gained 26.4 percent last year, seven points better than its category average, and it is up 2.8 percent year to date.
Stay ahead of the news ... Sign up for our email alerts now