Though much airplay has been given to persistent ‘New Era’ fantasies about the supposedly intangible nature of the ‘virtual economy’, the experience of the last few years has delivered a forceful reminder that the age of the internet and ‘business process outsourcing’ has not, in any way, diminished the need for basic raw materials – whether in the form of the power with which to run our computers and fuel our aeroplanes; or in the shape of the metals with which to construct the very fabric of our modern world; or as the agricultural staples which feed our growing population and our flocks of livestock, in addition to providing a growing proportion of our energy needs.

As the effects of the ‘second industrial revolution’ have made themselves felt in recent years,  bringing a materially richer, more productive, urban lifestyle to countless millions on every single continent, the world has been building refineries, pipelines, railways, sea ports, highways, factories, shops, offices and homes on an unprecedented scale and consuming record quantities of commodities in the process.

The inevitable rise in prices which has resulted has excited a great deal of investor interest and the belief that commodities offer a very useful alternative to equities and bonds has grown commensurately.

In anticipation of this shift, Diapason Commodities Management S.A. has been offering a range of market-leading indices – each based on commodity futures - just as the latest, multi-year bull market was beginning and, as investor needs have matured and evolved in the period since then, it has constantly sought to innovate and broaden the range of products on offer.