Claudio Barberis

CFA, European Fund Selection Committee, Allianz Global Investors Investments Europe

Based in: Milan, Italy

“This month we keep an overweight on the equity markets, mainly focused on the European area. We sell the BlackRock Gold fund, investing the proceeds in a fixed income multistrategy managed by Western AM, a total return fund specialized in the credit markets. This change broadens the exposure to the full global credit spectrum and terminates the long held position in the gold markets that helped the portfolio during the financial crisis. The interest rate duration of the model portfolio is still contained and principally concentrated in the Allianz Euro Bond Strategy, plus some position in absolute return bond funds..”