GLOBAL - Crédit Agricole Asset Management (CAAM) has launched an equity fund focused on the agricultural sector.
"The way we do it is by buying equities of the producers, such as milk producers or dairy farms."
He said commodities would tend to outperform such a fund when it initially opened, but this tendency reversed and pension funds would benefit from switching their investment from commodities to equities.
Fragneau commented that the agricultural sector has outperformed the global stock market from the beginning of the year.
"This is the objective we have set for this fund," he added.
In terms of socially responsible investment, Fragneau said it is not an "ethical fund", but the companies involved "are in the spotlight and it would very easy to check upon their activity from an ethical perspective".
Paul Budgen is set to join financial technology and auto-enrolment (AE) firm Smart Pension as director of business development.
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