Bernard Aybran
Bernard Aybran, head of manager selection, LCF Rothschild Based in: Paris, France
“The major equity indices have been oscillating within a (rather declining) trading range for most of the year. Performance in such an environment can be achieved in two distinct ways : trading actively and aggressively or finding the major themes that enjoy a clear trend, outside any trading range. We have found three of them so far : corporate high yield on the fixed income side, high dividend stocks and natural resources on the equity side. Both fundamentals and momentum can keep those three trends going within the next few months.”
Amount (E) Fund
20,000 MultiAlternatif Equilibre (fund of hedge funds)
8000 Fortis Europe Energy (Europe energy)
7000 Oblig Inflation (index-linked Bonds)
7000 Europe Rendement (Europe Equity)
7000 Franklin Mutual European Equity (Europe equity)
7000 ML Global Energy (global energy)
5000 Goldman Sachs Global High Yield (high yield $)
5000 Saint-Honoré Signatures + (high yield EUR)
5000 Centifolia (French equity)
5000 CS Global Resources (commodities)
5000 GAM North American Growth (US equity)
5000 Socgen International (global equity)
4000 Fortis Convertibles Europe (European convertibles)
4000 LFP Protectaux (reverse bond)
4000 Polar Japan Fund (Japan Equity)
2000 ML Focused Value (US equity)
