Alex Borer
“Risky assets rose again last month, as marginally improved economic news, oversold conditions, attractive valuations and some positive trends in corporate earnings fuelled an impressive rally. We are not convinced that we are at the beginning of a new secular bull market, as there are still a number of downside risks – but the increasing risk appetite leaves some room for further gains. Our recommended allocation, which strongly built on credit and reasonable equity exposure was able to post strong absolute returns. We increase the allocation to high yield bonds further – from 4 per cent to 6 per cent and reduce liquidity accordingly.”
AMOUNT () FUND
10,000 LGT Money Market Fund Government (EUR) (money market EUR)
11,000 Lyxor ETF EuroMTS 3-5Y (government bonds EUR)
4,000 LGT Bond Fund Global EUR (global bonds)
7,000 LGT Bond Fund Global Inflation Linked (EUR) B (inflation linked bonds)
5,000 JPM Global Convertibles EUR (global convertible bonds)
6,000 JB Global High Yield Bond Fund EUR (global high yield bonds)
6,000 LGT Multi Manager Bond Emerging Markets (USD) B (global emerging market bonds)
5,000 Cazenove Pan Europe Fund A (pan European equity)
5,000 MFS Meridian European Value Fund A1 Acc (pan European equity)
3,000 LGT Multi Manager Equity North America (USD) B (US equity)
7,000 Powershares S&P 500 Buywrite (US equity)
5,000 LGT Equity Fund Global Sector Trends (USD) B (global equity)
3,000 Nomura Topix ETF (Japan equity)
6,000 Fidelity Funds South East Asia A USD (Asia Pacific equity)
4,000 LGT Multi Manager Equity Emerging Markets (USD) B (emerging market equity)
5,000 ACL Alternative Fund Euro Share Class A (hedge funds)
3,000 Clariden Leu (CH) Cat Bond Fund EUR (cat bonds)
5,000 Schroder Alternative Solutions (commodity)
