Bernard Aybran
“Entering the new year, our portfolio still stands near its maximum level of investment in equity (60 per cent) due to both fundamental and sentiment/liquidity factors. On the fixed income side, we drastically reduced our interest rate sensitive position after the euro rate hit its lowest ever. On the equity side, we switched a part of the portfolio to US equity, mainly from European oil companies, hurt by a declining dollar. Going forward, we intend to keep or equity holdings next to their maximum.”
Amount (E) Fund
20,000 MultiAlternatif Equilibre (fund of hedge funds)
9000 Europe Rendement (Europe equity )
7000 Saint Honoré Signatures + (high yield euro)
7000 Centifolia (French equity)
7000 Franklin Mutual European Equity (Europe equity)
7000 Goldman Sachs Global High Yield (high yield $)
6000 Wanger US Small Caps (US equity)
5000 Nordea North American Value (US equity)
5000 GAM North American Growth (US equity)
5000 ML Global Energy (global energy)
5000 Socgen International (global equity)
5000 CS Global Resources ( commodities)
4000 Fortis Europe Energy ( Europe energy)
3000 Oblig Inflation (index linked bonds)
3000 Fortis Convertibles Europe
2000 ML Focused Value (US equity)
