Christoph Hott
“In our fund selection process we make a distinction between actively managed funds and ETFs – depending on the underlying market. In emerging markets, we see that outperformance is possible. One major exception is the Latin America region. Due to the enormous weighting of Petrobras, more than 15 per cent of the MSCI Latin America, active funds under UCITS III rule cannot track the index. In times when Petrobras beats the broader market index, most of the active LatAm funds underperform – and vice versa. Thus for this region, we prefer an index ETF to keep the active risks under control.”
AMOUNT (E) FUND 25,000 eb.rexx Gov. Germany 1.5-2.5 yrs (euro bond, short term) 12,000 eb.rexx Gov. Germany 2.5-5.5 yrs (euro bond, medium term) 7,500 Allianz-dit High Dividend Discount (european certificate funds, alt. investments) 7,500 MainFirst avant-garde (Europe equity, large cap growth) 7,500 Schroder Euro Dynamic Growth (Europe equity, large cap growth) 5,000 BlackRock Merrill Lynch US Growth (US equity, large cap growth) 5,000 OP Hedge Multi Strategies Plus (fund-of-hedgefunds, alt. investments) 5,000 OP Value European Equities (Europe equity, large cap value) 5,000 UBS (Lux.) European Opportunities (Europe equity, large cap blend) 4,000 DWS Bonuszertifikate (European certificate funds, alt. investments) 4,000 HSBC Trinkaus Aktienstrukturen Europa (European certificate funds, alt. investments) 2,500 AXA Rosenberg Japan Equ. Alpha (Japan equity, large cap blend) 2,500 eb.rexx Gov. Germany 5.5-10.5 yrs (Euro bond, long term) 2,500 Janus Intech US Risk Managed Core (US equity, large cap growth) 2,500 Templeton Asian Growth (Asian ex Japan equity, large cap value) 2,500 WIP Pramerica US Value (US Equity, large cap value)
