Bernard Aybran
“Most existing holdings fared fairly well in December, with one major exception: Magellan lagged its benchmark by a large extend, which trimmed somewhat its still impressive outperformance. The alternative part of the portfolio has been switched in order to keep the most liquid and transparent type of assets: a tactical asset allocation fund, with daily in and out liquidity and no notice. Besides, we added a pure OECD government-bond money market fund instead of a regular one, in order to stay away from any further turbulence in the interbank market. The asset allocation remained broadly unchanged.”
AMOUNT (€) FUND
20,000 GS Euro Government Liquid Reserve (money market)
20,000 Powershare EMTS Cash 3 Months (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)
