Permal Multi-Manager Natural Resources Fund (Lux): Permal Investment

Tenth European Fund of Hedge Funds Awards 2011

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Long-term growth for natural resources is good but the last few months of 2011 have been tricky, according to Hudheifa Moawalla, investment specialist at Permal. This was due to fundamentals, mostly in the developed markets, including a stalemate over the US budget, the eurozone crisis and worries over Chinese growth.

“Long term we believe there is a floor for prices given the long-term sectoral growth fundamentals. The real value can be found by seeking out active traders that adjust their net