David Bulteel
“Having said that equity markets were vulnerable to profit-taking, volatility returned with a vengeance over the last week. So far, the correction is similar to last May and other episodes in 2004-5 – indiscriminate selling, with similar falls across a range of stocks and markets, unconvincing bounces and renewed falls. However, inflation is now less of a concern so, if growth stalls, Central Banks will be able to ease. Economic data remains consistent with our soft landing scenario. Markets will hang on every release but the explanation for their reaction will lie more in changing risk aversion than changing fundamentals.”
Amount (E) Fund
15,000 Fidelity European Bond Fund
15,000 Thames River Euro Global Bond Fund
10,000 Artemis European Growth Fund
10,000 Fidelity European Equity Fund
10,000 Gartmore Continental European Equity
8,000 Schroder European Alpha Plus
5,000 Dexion Absolute Fund of Hedge Funds
5,000 Threadneedle Euro High Yield Bond Fund
3,500 Polar Capital Japan Fund
3,000 European Asset Value Fund
3,000 Schroder UK Alpha Plus
3,000 Merrill Lynch US Flexible Equity Fund
3,000 UBS US Equity Fund
2,000 Findlay Park US Smaller Cos
1,500 Aberdeen Asia Pacific Fund
1,500 Atlantis Japan Growth Fund
1,500 JP Morgan Emerging Markets Equity Fund
