Christian Jost

“During May, international stock markets still suffered from the European government debt crisis. Investors worldwide followed closely the situation of the so-called Piigs countries (Portugal, Ireland, Italy, Greece, Spain). The eurozone countries together with the IMF introduced a E750bn package in order to prevent a potential default by Greece. Nevertheless the euro continued its depreciation against currencies such as the US dollar and the Japanese Yen. Our portfolio, which is allocated according to C-Quadrat Best Fonds Strategy, reacted to this by overweighting bonds and reducing alternative investments.”