Bernard Aybran
“Last year was the fourth year of positive performance in a row, and it is unusual that equity markets rise five years in a row. However, it is likely 2007 could be one of these years, for several reasons, ranging from economics to valuations and liquidity. Our balanced portfolio keeps increasing the US equity weight. The remaining commodity holdings have been sold: the sector could go through a momentary weakness while investors are fearing economic and market cycles are heading to their late stage.”
Amount (E) Fund
20,000 MultiAlternatif Equilibre (fund of hedge funds)
7,500 Centifolia (French equity)
7,500 Ecofi Actions Rendement (Europe Equity)
7,500 Franklin Mutual European Equity (Europe Equity)
7,500 New Star European Growth (Europe Equity)
7,000 CAAM Dynarbitrage International (Sovereign Debt)
5,000 Saint-Honoré Signatures + (high yield EUR)
5,000 Saint-Honoré Oblig Opportunités (opportunistic bonds)
5,000 Victoire Oblig Internationales (Global Fixed Income)
5,000 ING US High Dividend (US Equity)
5,000 Kinetics Paradigm (US Equity)
5,000 ML US Focused Value (US Equity)
5,000 Tricolore Rendement (French Equity)
4,000 ING Emerging Debt Hard Currency (Emerging Debt)
2,500 Oyster Europen Opportunities (Europe Equity)
1,500 First State China Growth (China Equity)
