Claudio Barberis

“We are changing the asset allocation of the portfolio, reducing the number of European equity funds (keeping only the Alken and Oddo funds) to have a more concentrated equity portfolio, with two global funds, two European equities, one fund for US equities and one for Pacific equities. We increase instead the diversification of the alternative strategies, to include in the portfolio a long short equity fund managed by JB. This way the alternatives include different kind of strategies (global macro, credit, arbitrage, convertibles, fixed income, long short equities). The equity portfolio remains biased toward Europe.”