SHOWS: HONG KONG, CHINA (March 8, 2013) (REUTERS - ACCESS ALL)

JOHANN SANTER, GLOBAL COO, SUPERFUND

1. REPORTER OFF CAMERA SAYING:

'China's exports data exceeded forecasts today. What do you make of China's economic recovery vis-à-vis the global recovery?'

2. JOHANN SANTER SAYING:

'Obviously China now is the yard stick of the global economy. Everybody is watching particularly this economy very close as we do as well of course. So it's good to hear that economic stimulus kind of finding its way and also lifting markets up. As you mentioned of course the data is a little bit biased due to the Lunar New Year. But generally I think it's good to read that some of the measurements that took place recently are also bearing some fruits.'

3. REPORTER OFF CAMERA SAYING:

'With China's economy recovering, do you see demand of commodities pick up?'

4. JOHANN SANTER SAYING:

'Certainly the global commodity markets would benefit from recovery in the global economies and in the equity markets. It's this delayed movement of money going into these markets. Most of the commodity markets - especially steel, iron ore, that particularly important in China - have been suffering over the last few years. Also since the recession started to take place and certainly it would help a lot. On the other side, I believe with all the quantitative easing and with all the reflationary methods and instruments that took place over the last few years, one way or the other, the money will pour into commodity markets sooner or later. So I'm very confident about that.'

5. REPORTER OFF CAMERA SAYING:

'The Fed's quantitative easing program may be tightening, China's easing measures, as well - possibly in the second half of this year. Will that post any risks on commodities?'

6. JOHANN SANTER SAYING:

'The risks, I would say, are similar to all other asset classes. Just that the commodities in general have a bigger upside if the global economy starts to recover due to the demand. We at Superfund, we are also heavily invested into the gold and silver markets where we also see an alternative theme, an alternative flavor due to that where we believe when there are austerity programs, reflationary methods that have just been created over the recent years. If the economy recovers and even if the Fed tightens their tools, it will still benefit sooner or later. Because there has definitely been an imbalance between money being created and the prices of commodity markets which are still core asset and at least tangible assets that we have there.'

7. REPORTER OFF CAMERA SAYING:

'What are you advising clients on their commodities portfolios? Which commodities should they have in their baskets?'

8. JOHANN SANTER SAYING:

'Certainly it has been a tough environment for the commodity markets. All our clients are in the fairly diversified basket where we provide them up to 130-150 financial and commodity instruments where we can also go long and short, which makes hopefully different for them. And we're using a systematic trading mechanism for them. And have been fairly satisfied with the results. Generally speaking, we advise on diversified portfolios. We understand that fixed income, equity markets, real estate portfolios are eminent in a portfolio anyway. So having some core portion in commodities is strongly advisable, as nobody can predict when some equity market corrections could take place. Doesn't look for 2013, looks like a solid year for the equity markets. But we can't predict the timing. So having a diversified portfolio is the key in our opinion.'