Sector IM renames Junior Mining to reflect gold bias

Sector Investment Managers is renaming its Junior Mining fund to better reflect its 90% allocation to gold miners.

This is its heaviest weighting in gold miners since the fund launched a year ago. SIM is seeking shareholder approval to rename it the Junior Gold fund. Angelos Damaskos, chief executive, hiked exposure to gold miners from 70% in June. He used gold price weakness from a peak of $1,260 per troy ounce in June to increase his holding, using cash reserves and profits from copper mining stocks. He says: "Copper has been doing well, but it is much more linked to prospects for economic recovery. Prices have risen significantly over the past 18 months, and at present levels we question ...