- Global Sicav -
Ofi Invest Energy
Strategic Metals
Key metals in tomorrow’s energy
From agriculture to manufacturing to medicine, metals have become a must in today’s world. The race for technology and the energy transition is expected to boost demand in the coming decades.
At Ofi Invest Asset Management, our managers, who have been experts in this field for more than 20 years(1), have selected eight metals they regard as strategic and that offer long-term investment opportunities: copper, silver, nickel, palladium, platinum, aluminium, zinc and lead.
Metals: a market of opportunities to seize in a long-term allocation
21st century lifestyles depend on metals
Did you know?
The race for technology and the energy transition are behind the exploitation of almost all 86 metals in the periodic table of elements, up from about 10 in the 20th century.
Modern innovations and renewable energy technologies require materials with specific often unique properties found in certain rare metals, in order to enhance the efficiency, performance, and durability of new devices.
ILLUSTRATION OF THE INCREASED NUMBER OF METALS IN USE BASED ON TECHNOLOGICAL TRENDS
Source: Van Schaik and Reuter, Géosciences, n°15
Metals consumption by digital technologies: still far from total dematerialisation
Metals consumption by digital technologies: still far from total dematerialisation
Energy
Wind turbines, solar panels, hydrogen, etc.
Transports
Cars, trucks, planes, trains, and boats
Buildings
Construction materials, etc.
Medicine
Development of new medical equipment
Communication
Mobile phones, computers, etc.
Agriculture
Fertilisers and farming equipment
The energy transition is expected to consume lots of metals
FUTURE DEMAND FOR MINERALS FOR CLEAN TECHNOLOGIES BY SCENARIO (2020 VS 2040)
Source: IEA (International Energy Agency), 2021
Diversifying one’s portfolio through strategic metals
The selection of metals is based on a dual objective(2):
- To gain exposure, through futures contracts, to metals with the strongest potential, notably in light of energy transition challenges.
- To take liquidity into account(3): only metals traded on listed markets have been selected (thereby excluding cobalt and lithium).
TARGET PORTFOLIO ALLOCATION(4) EFFECTIVE DATE: 01/01/2026
For the year 2026, the Scientific Committee has decided to adjust the allocation of the Ofi Invest Energy Strategic Metals portfolio, with a particular focus on the fund’s positions in platinum and zinc.
Following an exceptional rebalancing that occurred at the end of December, these adjustments cannot be implemented before the next scheduled rebalancing, which will take place no later than March 31, 2026. Until then, the weights applied will remain those in effect since the beginning of 2025(5).
Source: Ofi Invest Asset Management, 31/12/2025.
Why choose Ofi Invest Energy Strategic Metals?
Diversify your portfolio with strategic metals
- Exposure to metals deemed strategic by the management team in transforming our energy system
- An original and diversifying investment solution
- No investment in equities or bonds within the sector
The subfund is exposed to commodity prices through commodity index swaps(6). A decline in the commodities markets or worsening in exogenous conditions (storage conditions, weather, etc.) could cause a decline in the subfund’s net asset value.
A well-regarded team of experts(1)
- A management team recognized in the metals and commodities markets
- Over 20 years of expertise in commodities management
The fund offers no guarantee or protection for the capital invested. There is a risk that investors may not recover the full amount of their initial investment.
A long-term investment theme
- Our society is expected to experience its highest level of metal consumption, driven by the necessary transformation of the energy system.
- Growing demand will be driven by global decarbonisation challenges
Any environmental, social or governance-related event or situation which, if it were to occur, could have an actual or potential negative impact on the value of the investment.
What the fund managers have to say
THE DEVELOPMENT OF CLEAN TECHNOLOGIES IS BOOSTING DEMAND FOR METALS
Renewable energies consume more metals and conventional energy technologies (nuclear, coal, etc.). In a scenario in which we comply with the Paris Agreement’s goals on greenhouse gas reductions, demand for copper could rise by 40% and demand for nickel by 60% to 70% by 2040 (International Energy Agency report, May 2021).
The situation is becoming critical for many metals used intensively in many industrial applications and for which substitutes are hard to find in the short term. As reserves are limited and production is concentrated geographically, operating costs are rising, pushing metal prices up and, hence, generating investment opportunities on these markets.
Measures to combat climate change could raise metal prices and generate investment opportunities.
BENJAMIN LOUVET
Head of Commodities Strategies,
Ofi Invest Asset Management
Head of Commodities Strategies,
Ofi Invest Asset Management
NOTES
(1) The current management team may change over time.
(2) The selected metals are defined in the prospectus.
(3) Liquidity refers to the ability to buy or sell an asset quickly without affecting its price.
(4) This weighting corresponds to the allocation of the index composed of futures contracts on the metals mentioned. It is reviewed once a year by an investment committee. These data are as of 31/12/2025 and will evolve in accordance with the index methodology available at www.ofi-invest-am.com. It is reminded that a target allocation represents an objective rather than a binding ratio and may not be adhered to due to specific market conditions leading the managers to consider that an asset class may not represent the optimal investment at a given time.
(5) Information regarding the exceptional rebalancing is available on the website: Exceptional rebalancing of the Ofi Invest Energy Strategic Metals fund index.
(6) Swaps or exchanges of financial cash flows: a contract entered into between two parties to exchange one financial cash flow for another, according to a predetermined schedule.
The promoted sub-fund relates to the acquisition of units or shares in a sub-fund, and not to a specific underlying asset, such as a property or shares in a company, as these are merely underlying assets held by the sub-fund.
The promoted sub-fund relates to the acquisition of units or shares in a sub-fund, and not to a specific underlying asset, such as a property or shares in a company, as these are merely underlying assets held by the sub-fund.
Refer to the subfund’s characteristics & documents for more details on its risks, fees and characteristics.
News related to the fund or its theme
A WORD ON - Understanding metals: silver, the jack-of-all-trades precious metal
20/05/2024
This advertising communication has been prepared by Ofi Invest Asset Management, a French portfolio management company (APE 6630Z) authorised by the Autorité des Marchés Financiers (AMF) under approval number GP92012 – intra-community VAT number FR513849403422, a public limited company (Société Anonyme) with a Board of Directors and share capital of EUR 71,957,490, whose registered office is located at 127–129, quai du Président Roosevelt, 92130 Issy-les-Moulineaux, France, and registered with the Nanterre Trade and Companies Register under number 384 940 342.
This advertising communication does not provide any assurance as to the suitability of the products or services presented for the investor’s situation or objectives and does not constitute a recommendation, advice, or an offer to purchase the financial products mentioned. Ofi Invest Asset Management declines all liability for any damage or loss resulting from the use, in whole or in part, of the information contained herein.
This advertising communication contains information and numerical data that Ofi Invest Asset Management considers to be well-founded or accurate as of the date of preparation. For those elements derived from public information sources, their accuracy cannot be guaranteed.
The analyses presented are based on assumptions and expectations of Ofi Invest Asset Management at the time of drafting this communication and may not be fully or partially realised in the markets. They do not constitute a commitment to performance and are subject to change.
The value of investments in financial markets may rise or fall and may vary due to exchange rate fluctuations. Depending on economic conditions and market risks, no guarantee is given that the products or services presented will achieve their investment objectives. Past performance is not indicative of future results.
The Key Information Document (KID) and the prospectus are made available to subscribers prior to subscription and provided at the time of subscription; these documents, together with the latest available financial statements, are available to the public upon request from Ofi Invest Asset Management.
The sub-fund presented in this advertising communication may not be registered in all jurisdictions. The sub-fund may be subject to restrictions with respect to certain persons or in certain countries pursuant to applicable national regulations. Ofi Invest AM may decide to terminate the arrangements for marketing the sub-fund in accordance with Directive 2009/65/EC and Regulation (EU) 2019/1156 of the European Parliament and of the Council. Information on investors’ rights and collective redress mechanisms at national and EU levels in the event of a dispute is respectively available here: https://www.ofi-invest-am.com/pdf/ofi-invest-am_investors-rights.pdf and here: https://www.ofi-invest-am.com/en/informations-reglementaires.
FA26/0745/10022027
This advertising communication does not provide any assurance as to the suitability of the products or services presented for the investor’s situation or objectives and does not constitute a recommendation, advice, or an offer to purchase the financial products mentioned. Ofi Invest Asset Management declines all liability for any damage or loss resulting from the use, in whole or in part, of the information contained herein.
This advertising communication contains information and numerical data that Ofi Invest Asset Management considers to be well-founded or accurate as of the date of preparation. For those elements derived from public information sources, their accuracy cannot be guaranteed.
The analyses presented are based on assumptions and expectations of Ofi Invest Asset Management at the time of drafting this communication and may not be fully or partially realised in the markets. They do not constitute a commitment to performance and are subject to change.
The value of investments in financial markets may rise or fall and may vary due to exchange rate fluctuations. Depending on economic conditions and market risks, no guarantee is given that the products or services presented will achieve their investment objectives. Past performance is not indicative of future results.
The Key Information Document (KID) and the prospectus are made available to subscribers prior to subscription and provided at the time of subscription; these documents, together with the latest available financial statements, are available to the public upon request from Ofi Invest Asset Management.
The sub-fund presented in this advertising communication may not be registered in all jurisdictions. The sub-fund may be subject to restrictions with respect to certain persons or in certain countries pursuant to applicable national regulations. Ofi Invest AM may decide to terminate the arrangements for marketing the sub-fund in accordance with Directive 2009/65/EC and Regulation (EU) 2019/1156 of the European Parliament and of the Council. Information on investors’ rights and collective redress mechanisms at national and EU levels in the event of a dispute is respectively available here: https://www.ofi-invest-am.com/pdf/ofi-invest-am_investors-rights.pdf and here: https://www.ofi-invest-am.com/en/informations-reglementaires.
FA26/0745/10022027