Bernard Aybran
“These days, a month feels like years. One month ago, markets were waiting for the war to break out and sinking to new lows. Suddenly they bounced back 17 per cent in Europe, anticipating a quick victory in Iraq. Now we view the markets as totally dependent on events in Iraq, with no attention paid to the actual economy. Any market movement, whether up or down, will tend to be violent. In this context, we recommend increasing diversification.”
Amount (E) - Fund 25,000 - MultiAlternatif Equilibre (fund of hedge funds) 9000 - AXA Euro Credit 8000 - Credit Suisse BF High Yield Euro 8000 - Rendements Emergents (emerging debt) 6000 - Agressor (French equities) 6000 - Centifolia (French equities) 6000 - Merrill Lynch Focused Value (US equity) 5000 - SGAM Euro Spread (investment grade) 5000 - Saint-Honoré Sécurité (money markets) 5000 - Socgen International (global equities) 4000 - Oblig Inflation (index linked bonds) 3000 - IDE France Dynamisme (French equities) 3000 - Saint-Honoré Capital (sovereign European bonds) 3000 - Victoire Obligations Internationales (investment grade) 2000 - Acofi Rendement (real estate) 2000 - SogeSector Or (gold mines)