Dario Brandolini
“Increasing risk aversion and unclear signals from macro data, have made us more cautious. Hence we have maintained adequate level of equity risk in the portfolio in spite of volatile markets. On the other hand, we have reduced the beta and the number of themes and sectors within the portfolio. On the bond side, we see few opportunities in traditional investments. Therefore, we still have a very diversified portfolio with total return bond funds, convertible funds and volatility funds. In general, we have been building a little less risk into the portfolio while remaining moderately optimistic.”
Amount (E) Fund
6000 Parvest Euro Govt Bond C
6000 MLIIF Euro Bond - EUR
6000 HSBC Pan-Europ Govt Bond
6000 AMEX Currency Alpha Plus
6000 Axa WF Talents Absolute A
6000 JPM Highbridge Statistical Mkt Neutral EUR
6000 CAF Dynarbitrage Volatility EUR
3000 JB Absolute Return Bond
3000 Henderson HORIZ-ABS RT FX-A2
3000 Saint Honoré Obblig Opportunites EUR
3000 CS BF (Lux) Target Return (Euro) B EUR
3000 GLG Performance N EUR
3000 MLIIF World Energy
3000 IXIS Oakmark Global Value
3000 Vitruvius Growth Opportunities
3000 M&G Global Basics
3000 Parvest Japan Quant/Jpy
3000 Vitruvius Japanese Eq.
2000 PARV Short Term Sterling
2000 MLIIF US Focused Value EUR Hdg
2000 Vitruvius US Eq.
2000 FT M Beacon US Eq A
2000 M&G American Fund
2000 Parvest US Value
2000 Vitruvius European Equity
2000 Vontobel European Value
2000 Franklin Mutual European EUR
2000 JPMF Europe Dynamic
2000 UBAM Germany
1000 GLG Global Convertible
1000 IXIS AMA Pacific Rim Equities
1000 Axa Rosenberg Pacific ex-JP
