Two staunch supporters of Australia’s mining sector, Pengana Capital and Fidelity, are adopting a wait-and-see approach…”We have enough,” Pengana Capital’s senior fund manager Tim Schroeders said.
Not before time, from the AFR:
…Fidelity portfolio manager Paul Taylor said his firm is currently slightly underweight to BHP and Rio Tinto combined, relative to their benchmarks.
Not underweight enough. JPM just cut Fortescue to underweight as well.
