Bishop’s Impala Fund, Up 30% in 2020, Sees Commodity Bull Market
- Impala says copper will be a ‘clear winner’ in raw materials
- Impala Resource Fund says it returned 86% since inception
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Bob Bishop’s Impala Resource Fund, which gained more than 30% in 2020, is predicting a long-term bull market for commodities.
The fund, which is under Bishop’s $2 billion Impala Asset Management and focuses on commodity-related equities and materials, drew comparison to the last super cycle that started in the early 2000s on a China-driven demand boom. It sees copper as a “clear winner,” and is also bullish on wood products and the energy sector, forecasting oil demand to top supply in 2021, according to a presentation seen by Bloomberg News.