Index fund managers say energy is new asset class for investors

摘要

The influx of more than $60.9 billion of new index fund money into the energy space over the past 2.5 years caught the eye of Congress this summer as lawmakers looked for culprits as energy prices vaulted to historical highs.rnBut barring Congressional action to limit energy-market participation by speculators, investment managers say they believe energy has become an asset diversification strategy that isn't going away.rn"I think the trend toward commodity exposure should be looked at in the same way as the early trend in real estate exposure through the [real estate investment trust], foreign stock exposure, bonds in things other than AAA bonds," said John Hyland, chief investment officer at Victoria Bay Asset Management.