Bernard Aybran
“Going into the new year, the Street celebrates unanimously what is meant to be a ‘reasonably positive’ year for most of the asset classes, except maybe government bonds. In other words risk tolerance nears all time highs. Thus, our balanced portfolio is reasonably well invested in equity markets, whether in Europe, the US or Japan. There are good reasons for stock markets to perform in 2006. That may be the trouble; most markets are priced for perfections and any disappointment could weigh on returns going forward. And, in the shorter run, indices cannot go on at that pace too long.”
Amount (E) Fund
20,000 MultiAlternatif Equilibre (fund of hedge funds)
8,000 Franklin Mutual European Equity (Europe equity)
8,000 Tricolore (French Equity)
7,000 ING Emerging Debt Hard Currency (Emerging Debt)
7,000 Victoire Oblig Internationales (Global Fixed Income)
7,000 JPMF Natural Resources Resources (Commodities)
6,000 CAAM Obligations International (Sovereign Debt)
5,000 Saint-Honoré Signatures + (high yield EUR)
5,000 AXA Rosenberg Japan Small Caps (Japan Equity)
5,000 Centifolia (French equity)
5,000 Amérique Rendement (US Equity)
5,000 Fidelity European Aggressive (Europe Equity)
4,000 UBAM Neuberger Berman US Eq (US Equity)
3,000 ML Global Energy (global energy)
3,000 Oyster European Opportunities (Europe equity)
2,000 Fortis Europe Energy (Europe energy)
