Bernard Aybran
“January has been a tough month for most markets, even if Euro-denominated portfolios have been helped by the appreciation of the US dollar. Most selected funds have fared well on the month, with two major exceptions: the fixed-income sovereign ETF and the Absolute Return fund which have been net detractors to the performance. One new fund has been added to the portfolio, albeit in a very minor proportion so far: a high yield portfolio managed in a very conservative way by a specialised boutique. While it would be difficult to shrug off the highly attractive yields on this asset class, anticipated downgradings make us careful.”
AMOUNT () FUND
20,000 Powershare EMTS Cash 3 Months (money market)
17,500 GS Euro Government Liquid Reserve (money market)
15,000 Lyxor Euro MTS 7-10 (fixed income sovereign)
10,000 Invesco Gloabal Absolute Return (GTAA)
7,500 Blackrock World Energy (energy global)
5,000 Centifolia (French equity)
5,000 Invesco Pan-European Structured (Europe equity)
5,000 L Select - US Select Growth (US equity)
5,000 Lyxor FTSE RAFI Japan 100 (Japan equity)
5,000 Skandia US Large Caps Value (US equity)
2,500 Magellan (emerging equity)
2,500 Muzinich America Yield (high yield)
