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Global Resources IT to ride the wave of resource sector resurgence

Global Resources IT to ride the wave of resource sector resurgence

Global Resources Investment Trust (LON:GRIT) is set to benefit from a return to favour of resource companies, according to broker Keith Bayley Rogers.

The UK-based investment vehicle, which was created by the same team that launched the Resources Investment Trust in 2002, operates a model in which it swaps its shares for stock in carefully selected resource companies, typically those that do not have access to capital directly.

“The fund will benefit from a recovery in the resource sector which current indicators show could be a timely event,” suggests analyst, Julian Emery.

According to Emery, GRIT fits into the mid-range of existing natural resource investment trusts but the timing of the return to the market of the firm’s founders looks propitious.

“Precious metal markets have stabilised following a significant downturn and global demand for base metals appears to be improving. Although GRIT has a diversified portfolio of investments at an early stage in their development and therefore may be regarded as speculative, management and advisors have the track record to generate performance,” the broker said.

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GLOBAL RESOURCES INVESTMENT TRUST PLC ORD GBP0.01 Timeline

Newswire
December 05 2014

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