Trying to gather some fund choices that incorporate gold / silver (CEF), miners (TGLDX), energy (PRNEX or VGENX), commodities (SKSRX or PCLDX, materials (VAW, VMIAX), natural resources (PRNEX), industrials (VINAX), real estate (PAREX, VNQ, FRIFX), maybe even TIPs (VIPSX) all into one fund that is either managed or fundamentally indexed.
Basically, I'm looking for a "multisector real asset fund" (like a multisector bond fund) with a strategy to manage inflation risk and identify mispricing (value). T. Rowe Price offers PRAFX which M* catagorizes as a World Stock fund which makes finding similar funds hard to filter.
Comments
Howdy bee,
Short on the time thing here today..........but a little something that may help.
Click on the "Resources" header in the title bar here at MFO and then click on "The Navigator". At "The Navigator" page, and the "type in the name of the fund"; type in "real assets". A list will populate below this area with fund names that use this term.
Also think of any other word terms that may apply, such as: real return, which will generate a similar naming list somewhat related to your query.
I have not reviewed any of the listed funds.
A tiny bit of help, perhaps.
Take care,
Catch
Another point made was the difficulty of finding well designed real asset investments for small investors who often use vehicles like mutual funds or etfs.
From this Paper:
In this paper, we considered the performance of direct investments in three real asset classes: natural resources (namely timberland and farmland), energy infrastructure, and commercial real estate. Using publicly available data for a period starting in 1978 (for real estate) or 1996 (for infrastructure) and ending in 2012, our main result is that investing in these real asset classes would have provided significant diversification benefits relative to a traditional portfolio consisting of only public equities and government bonds, without evidence of deteriorating overall performance. While investments in natural resources had particularly low downside risk, investments in energy infrastructure and commercial real estate showed significant downside risk, comparable to a traditional portfolio of equities and bonds.
Another important caveat is that with the exception of timberland investments (and commercial real estate for 1978-1987), the real asset classes did not provide any inflation hedging benefits over our full 1978-2012 time period. Further, the diversification benefits of direct investments in natural resources were much lower in times when equity markets went down.
White paper needs to be downloaded from this link:
https://dgfi.com/White-Papers/Direct-Investments-in-Real-Assets
Holds TIPS, floating rate income, REITs, and commodities in predefined target bands.
Worah and his team seek to provide an all-in-one real-return solution by tactically allocating among five inflation-related asset classes. U.S. Treasury Inflation-Protected Securities form the largest component, followed by commodities, emerging-markets currencies, REITs, and gold. Worah adjusts the fund's positioning based on PIMCO's macroeconomic outlook and real asset views ....
And for "real ass" I get:
Although I know PAAIX has fallen from grace on the board, I think it offers a lot of what you are asking for, except maybe pure precious metals. Here was review last time I looked: Three Messages from Rob Arnott.
And, here is David's profile of T. Rowe Price Real Assets (PRAFX). It's had a rough time in this bull market, as you might expect.