Alex Borer

“After two very strong months for global equities, we believe they are a little ahead of themselves. Increasing confidence in an economic revival and solid company earnings statements brought risk takers back to the markets. From a behavioral point of view, it is getting more and more difficult to impress markets. Seasonality patterns also point to at least a consolidation in equity markets. Accordingly, we reduced the equity exposure by 5 per cent and invest the proceeds in the Lyxor Government Bond ETF 7-10 Years. Our buy write fund (6 per cent), the CTA’s (8 per cent) and the goldmine ETF (5 per cent) should do well in this scenario.”