"The fundamentals are pretty good for uranium as market demand is increasing substantially," he said.
"China has another 100 reactors to be built by 2020 which will boost demand. The country is really changing its energy production."
However, the scarcity of the resource means that there are very few companies producing uranium to meet the growing demand.
"There are a very small number of equities to choose from in the uranium sector, perhaps only five or six, and many have already signed over much of their production. Cameco have committed 40 per cent of production to China," Campion added.
The fund manager, who has a background in geology, has sought out companies with large stocks of high grade uranium to invest in.
"The approach we’ve taken is to look at the next level down, at the guys who will be producing in the next three-to-five years. We’ve identified a few with 50m lbs of uranium of a decent grade," he continued.
"Extract Resources is a miner we have had good success with. They have a signed a deal to mine in Namibia. Mantra Resources are mining in Malawi and Uranium One are a major producer in Russia."
"The equity space is going to get very interesting over the next few years as investors pile into uranium."
Ben Willis, who advises at Whitechurch, sees the sense in backing uranium but has reservations about the level of demand from China.
"When you think about the number of cities in China with a population over a million we don’t dispute that nuclear power could become widespread."
"That’s a very good reason to back uranium," he said. "However, while China is a developing country, it still has a long way to go in terms of expanding its infrastructure."
Performance of funds over 2-yrs
Source: Financial Express Analytics
Financial Express data shows that Oceanic Australian Natural Resources has returned 221 per cent to investors over two years. It has outperformed the much larger JPM Natural Resources, which returned 159 per cent, and Smith & Williamson Global Gold & Resources, which returned 145 per cent over the period.
First State Global Resources returned 128 per cent over two years and Investec Global Dynamic Resources had 104 per cent growth.
Campion also has a significant position in copper and gold, expecting them to do very well through 2011.
"The copper space is very interesting. The margins are quite phenomenal at the moment. Over the short-term gold is good too. With trouble in the Middle East and the US dollar where it is then it will be strong over the next couple of months," he finished.