3 Energy Mutual Funds to Buy on Continued Geopolitical Issues
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 23 2024
0mins
Source: NASDAQ.COM
- Crude Oil Prices: Crude oil prices surged in 2022 due to supply concerns from Russia's invasion of Ukraine and OPEC+ production decisions. Prices hit $100/barrel in April 2023 after OPEC+ cut output.
- Energy Sector Performance: Energy sector performed well in 2024, with the Energy Select Sector SPDR rising 10.7% year to date, driven by geopolitical tensions and favorable spreads for oil refiners.
- Investment Opportunities: Astute investors are advised to consider energy mutual funds with oil companies as major holdings for potential returns.
- Recommended Mutual Funds:
- Franklin Natural Resources Fund (FRNRX) with significant investments in the energy sector, led by manager Steve M. Land.
- T. Rowe Price New Era Fund (PRNEX) focusing on natural resource sector stocks, managed by Shinwoo Kim.
- Fidelity Select Energy Portfolio (FSENX) investing in energy field stocks, managed by Maurice FitzMaurice.
- Zacks Investment Research: Zacks experts recommend specific mutual funds for potential growth, highlighting investment opportunities in the energy sector.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
