assets of a capital management company invested in securities of companies providing goods for further processing or refining, mainly – extraction of mineral resources such as metals, coal, oil or rock salt, – agricultural factories producing basic plant and animal products, including forestry operations. Sometimes securities of commodity trading companies are also included in the fund’s assets. – Index funds based on listed commodities. The securities issued on them are called exchange-traded commodities; thus, the term refers to issued securities rather than the underlying commodities. – Sometimes also said of a pure precious metals fund. – See financialization, commodity finance, forestry funds, commodity futures investment funds. – Cf. BaFin Annual Report 2007, p. 81 (insurance companies may in principle also invest in commodities), Financial Stability Report 2011, p. 42 ff. (increase in financialization; associated risks; literature references).
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