Specialist funds lead the way in 2009

After a poor 2008 on the back of a strong slide in commodity prices, resources, emerging Europe and Latin American vehicles bounced back strongly since the market lows - returning upwards of 100% over the calendar year. Ian Henderson's £1.82bn JPM Natural Resources fund has benefited from the sharp spike, climbing 91.3%. "This year has all been about an increased investor appetite for risk," Henderson says. "In terms of valuations, obviously the easy money has been made, but we are still very much driven by the emerging world theme, which will support the commodity story over the m...