No results found.(refine search)
What explains the growth in commodity derivatives?
This article documents the massive increase in trading in commodity derivatives over the past decade?growth which far outstrips the growth in commodity production and the need for derivatives to hedge risk by commercial producers and users of commodities. During the past decade, many institutional portfolio managers added commodity derivatives as an asset class to their portfolios. This addition was part of a larger shift in portfolio strategy away from traditional equity investment and toward derivatives based on assets such as real estate and commodities. Institutional investors? use of ...