Claudio Barberis
“Equity markets are still weak and recent data on the US economy make us cautious. We sold exposure to foreign exchange total return strategies and increased positions in emerging markets bonds, buying the AMEX Global Emerging Markets Absolute Return fund. The duration of the bond portion has been kept stable following a strong month for government bonds. We increased exposure to the Legg Mason Value fund, following its weak performance due to troubles in the US financial sector. On equities, we add some exposure to the European and Japanese markets, where we see a less critical situation than in the US.”
AMOUNT (E) FUND
10,000 AXA WF Euro Bond 7-10
10,000 JB Absolute Return Bond
8,000 Allianz RCM Systematic Equity
8,000 AMEX-GEMAR AEH?
7,000 Parvest Euro Govt Bond C
7,000 Vitruvius Japanese Eq.
6,000 Allianz RCM Europe Equity Growth
6,000 Legg Mason US Value Trust
5,000 GLG Performance Fund
5,000 MLIIF W.GOLD$
5,000 Morgan Stanley Global Brands
5,000 Vitruvius European Equity
4,000 Deka Xtension CF EUR
4,000 GLG GL CONV N
4,000 M&G Global Leaders
3,000 AMEX World Energy
3,000 HSBC Asia Freestyle
