Volatility makes oil and gold look attractive for 2003

Baring Asset Management says core resource stocks, such as gold and oil, are likely to become a regular attraction to investors in 2003 as the continued volatility could keep assets in selling commodities. John Payne and Michael Sell, fund managers or the Baring Global Resources Fund registered in Dublin, say they expect emerging markets resource companies, in particular, to offer good returns because demand still outweighs supply in some cases, while other companies are fast learning to cut their production costs. "This is particularly relevant to the Russian oil companies which...