Bernard Aybran

“‘The trend is your friend’, seems to be the name of the game these days. Several powerful trends seem to be well established in the global equity markets, with one common factor: risk appetite is back. Money flows are chasing beta around the globe, whether in the tech markets, in Asia or in global small cap stocks. In such a context, the best thing to do appears to seize the opportunities, which could last some more months looking forward.”

Amount (E) Fund

25,000 MultiAlternatif Equilibre (fund of hedge funds)

8000 Polar Japan Fund (Japanese equity)

8000 CG Nouvelle Asie (Asia ex-Japan equity)

7000 Merrill Lynch Focused Value (US equity)

6000 MFS US Emerging Growth (US small caps)

5000 Goldman Sachs Global High Yield (high yield dollars)

5000 Socgen International (global equity)

5000 Nouvelle Europe (Europe equity)

5000 Franklin Mutual European Equity

4000 Agressor (French equity)

4000 Centrale Croissance Europe (small caps)

4000 Centifolia (French equity)

3000 Elan Convertibles Europe

3000 Victoire Obligations Internationales (investment grade)

2000 AXA Euro Credit

2000 Oblig Inflation (index linked bonds)

2000 IDE France Dynamisme (French equity)

2000 Callander Assets (US small caps)