Earth Element shines on bullish precious metal and energy bets


The Singapore-based Four Elements systematic commodity fund, which trades exchange-traded futures contracts, had a strong June – with a gain of 2.47% taking the first-half 2013 gains to 5.2%.

Lionel Semonin, founder of Four Elements Capital and portfolio manager of the fund, attributes this to the firm’s view of being bullish on certain commodities, particularly overweight on precious metals and energy, while being lukewarm on grains and livestock.

“We have very recently changed our position from being bearish to bullish precious metals. From a macro perspective, the outlook around monetary policy has changed recently and that’s