Axel Weitens
“Global economic growth is decelerating, mainly due to the effects of high commodities prices. US outlook is a bit more predictable than in the previous months. Last macroeconomics numbers are rather positive except unemployment rate above 5 per cent. On the other hand, we feel less confident about Europe. We believe that a strong Euro could begin to impact negatively on Europeans companies. In such conditions, we continue to be cautious about equities and prefer to invest in low beta investments (eg hedge funds). In terms of geographic exposure, we favour US and Japanese stocks, and continue to underweight Europe.”
AMOUNT (E) FUND 20,000 L Dyna Hedge 20,000 L Multi Hedge 10,000 Louvre Multi Select Global Bond Fund 10,000 US Select Growth (US visible growth) 8,000 SG Japan Core Alpha 6,000 Europe Value 6,000 Exane Gulliver 4,000 DWS Agribusiness 4,000 L Convertibles 4,000 Louvre Multi Select Emerging Markets Equity Fund 4,000 MLIIF World Mining Fund 4,000 OPA Monde
