Dario Brandolini
“August was a very volatile month in the markets, due to the fear that US subprime crisis would affect the world economy. Very few asset classes and investment processes delivered positive returns while a lot of them suffered high capital losses. We remain cautious both on the bond and the equity side. Our bond portfolio is positioned on a high duration fund (AXA 10+) as a hedge on the markets, and is diversified with some total return funds (currency, statistical arbitrage, global allocation). Our equity portfolio, as well, is invested in defensive funds and some growth funds invested in technology less hit by the recent market collapse.”
Amount (E) Fund
7,000 Parvest Euro Govt Bond C
7,000 MLIIF Euro Bond - EUR
7,000 HSBC Pan-Europ Govt Bond
6,000 AXA WF Euro Bond 10+LT
3,000 HENDERSON HORIZ-ABS RT FX-A2
3,000 Deka-Euro RentenPlus TF
4,000 JPM Highbridge Statistical Mkt Neutral EUR
6,000 Morgan Stanley FX RC 800
5,000 Mellon Evolution Alpha Global Fund
6,000 MELLON Glob Currency Option C EUR
3,500 GLG Performance L USD
5,000 Vitruvius Growth Opportunities
3,500 M&G Global Leaders
5,000 IXIS Oakmark Global Value
3,500 JB US Leading
3,000 IXIS Loomis US Large Cap Growth
3,000 Vitruvius US Eq.
3,000 GLG North America L
4,000 GLG European Eq. N
4,000 Franklin Mutual European EUR
3,500 JPM Euro Dynamic MEGACAP
2,500 Parvest Japan Quant/Jpy
2,500 Vitruvius Japanese Eq.
