Bernard Aybran
“Our balanced portfolio did not move that much in March, since we had already trimmed our equity holdings late in February. Our equity portfolio remains focused on two areas: Europe and natural resources.
“Most of the movement has been on the fixed income side, lately, with spreads expanding quickly as the US interest rate rose, and the eurozone rates resuming their steady downtrend. Our next move will be trim the high yield portfolio.
Amount (E) Fund
20 000 MultiAlternatif Equilibre (fund of hedge funds)
15 000 Saint-Honore Tam+ (money market)
10 000 Goldman Sachs Global High Yield (high yield dollar)
7 000 Saint-Honoré Signatures + (high yield euro)
7 000 Centifolia (French equity)
7 000 Franklin Mutual European Equity (Europe equity)
6 000 CAAM Obligations International (sovereign debt)
5 000 JPMF Natural Resources Resources (commodities)
5 000 ML Global Energy (global energy)
5 000 Nordea North American Value (US equity)
5 000 Socgen International (global equity)
4 000 Tricolore (French equity)
4 000 Fortis Europe Energy (Europe energy)
