JP Morgan launches commodity fund
JP Morgan says the diversified index has a capped allocation of 33% to energy "to better represent the underlying trends in broader commodity markets", and reflects diversification for each commodity along its futures curve.
Traditionally, investable commodity indices have only taken into account the "front month" or closest to expiry contract of no more than 24 commodities. JPMCCI Energy Light adopts a transparent 'curve neutral' construction method, based on open interest, which invests along
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