This quarterly review provides an update on the sector and country contributions as well as the outlook for the Global Resources strategy. Learn more.

Key Highlights   


  • Global resources equities rallied due to seasonal demand, Chinese policy stimulus, and diminished expectations for the pace of US interest rate hikes. This weighed on the US dollar, propelling metals prices off their most recent lows. Major supply disruptions and OPEC headlines about a potential production freeze, supported oil prices.
  • The First State Global Resources strategy increased in value during the March quarter, driven primarily by our exposure to gold producers, which benefited from the rising gold price on increased demand for the precious metal as a store of value.


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