abn-amro-promotes-utilities-as-safe-haven

ABN AMRO promotes utilities as safe haven

Dutch asset manager backs the sector as a hedge against rising inflation and economic uncertainty.
Investors are taking flight from economic uncertainty to invest in the more certain world of global utilities. According to Corne Zandbergen, manager of the ABN AMRO Global Utilities fund, the sectorÆs stable characteristics have seen the fund more than double in assets under management, from $80 million to more than $180 million, since April this year. The fund is being marketed through wholesale distributors in Hong Kong, Singapore, Indonesia and Taiwan.

ôThis has only been partly due to good share performance,ö he says. ôUtilities is seen as a very defensive sector. With economic indicators in the US such as house prices on a downward trend we have seen the utilities become more in focus among...
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