MARKETS SPECTATOR: Pengana loathes a bank bias

Pengana's global resources head, Ric Ronge, believes the market is simplistically choosing bank stocks over the undervalued major miners.

If mining stocks are going to rally it cannot come too soon for Pengana Capital fund manager Ric Ronge.

His hedge fund, Pengana’s global resources fund, is down 12 per cent in the year to March 31. Over five years the fund’s total return has been 2 per cent per annum.

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