State Street's Top Stock Picker Buys Beaten-Up Mining Companies
- Engel buys some major Australian mining shares, avoids energy
- Volatility in resources remains deterrent to larger positions
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Olivia Engel, whose Australian equities fund beat 96 percent of her peers, is buying some of the country’s most beaten-up stocks.
State Street Corp.’s investing in some resources companies after shares slumped this year as commodity prices collapsed, Engel, head of active quantitative equities for Asia Pacific at the asset manager, said at the Bloomberg Summit in Sydney. She’s bought Australian mining stocks, with the industry remaining a small part of her fund, while avoiding energy explorers, she said.