JPM's Gregson diversifies into diamonds

Miners have taken a battering over the past two years but Neil Gregson, manager of the £1.4bn J.P. Morgan Natural Resources fund, tells Annabelle Williams where he is looking for fresh opportunities.

Neil Gregson is backing diamond miners in his £1.4bn J.P. Morgan Natural Resources fund as demand for precious stones continues unabated. While much has been written of continued demand for gold jewellery and bullion among the emerging wealthy classes in the Middle and Far East, few investors have noted the ongoing trend for buying diamonds as a store of wealth. Gregson has 6% of his fund in diamond miners, and particularly likes LSE-listed Petra Diamonds. He owns 8%-9% of the company through a 1% position in his fund and is excited about its prospects following the purchase of a n...