Kopernik Fund Goes From Worst to Top With Value Now in Favor
- It's beating 99% of peers this year after trailing 97% in 2015
- Iben sees bargains in energy, gold, emerging-market stocks
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The mutual fund David Iben oversees lagged behind more than 95 percent of its peers for two consecutive years. This year, the chief investment officer’s performance stands out for the right reason.
The $682 million Kopernik Global All-Cap fund has appreciated 15 percent in 2016, beating 99 percent of its competitors, data compiled by Bloomberg show. It’s up 36 percent since hitting a Jan. 20 low. Iben went from among the worst to being one of the best by buying stocks of gold, utility, energy and emerging-market companies that were getting punished by the commodities rout and concern over slowing growth in the developing world.