Aberdeen backing the big miners to ride the next wave

Livewire Equities


Rob Penaloza of Aberdeen Asset Management is backing BHP and RIO to ride out of the current storm. The fund manager, speaking with AFR Smart Investor, says he’s recently added to the BHP position..."We want to be backing those dominant miners that have got their houses in order and that are world class, and that's what we are continuing to do. One of the things we liked about these businesses is they can ride the up cycles very well because they are world class… Because they've shown the discipline they've always had in place, all they need is to turbo charge. There's no reason we won't be able to ride the second wave, the trajectory just won't be as steep [as the rise in value during the resources boom]." (Source: AFR, paywall) (VIEW LINK)

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