WorldCommodity Funds Inc. of Atlanta reported that its first mutual fund, launched Oct. 27, has had a 14.33% return since its inception and had a return of 10.9% in the first quarter.
The WorldCommodity Fund's first-quarter performance ranks it among the top 15 open-end mutual funds available to U.S. investors among the 8,800 funds tracked by Morningstar.com; it had the third-best performance of the 40 open-end funds in Morningstar's Specialty-Natural Resources category, the company said Tuesday.
Distribution of the no-load fund began Tuesday. The fund takes a global approach, looking for opportunities in natural resources by investing in equities of commodity-related companies involved in the agriculture, energy, and metals sectors.
The fund's portfolio is actively managed, allowing the adviser to invest without limitation in one or more of these commodity subsectors. The portfolio is managed by McConnell Asset Management LLC of Atlanta, a registered investment advisory firm.
