Gary Potter and Rob Burdett
“The strength of the Euro had a big impact on returns in December, meaning that although overall fund selections did well within their peer groups only two funds generated positive returns - Thames River Global Bond which benefited from sharply falling global interest rates and a continued flight to quality, and IVI European which bucked the trend for European funds. Going into 2009 we are positioned for a year where micro factors increase in importance now that the macro conditions are widely known. At points during the year recovery will be anticipated but some of these rallies will undoubtedly prove to be false.”
AMOUNT (€) FUND
13,000 Thames River Global Bond EUR (global sovereign fixed)
10,000 Findlay Park US Smaller Companies (US equity)
9,000 Thames River High Income EUR (global credit)
8,000 JO Hambro Capital Management Japan (Japan equity)
7,500 Blackrock Absolute Alpha (absolute return)
7,500 Cazenove UK Absolute Target (absolute return)
7,000 Invesco Sterling Bond (sterling fixed)
6,000 Neptune US Growth (US equity)
5,000 IVI European (pan-Euro equity)
4,000 Cazenove European (Euro ex-UK equity)
4,000 MW Japan (Japan equity)
4,000 Neptune European Growth (pan-Euro equity)
4,000 Veritas Asian Fund (Asia Pacific equity)
3,000 Rensburg UK Managers’ Focus (UK equity)
2,000 Old Mutual Dublin UK Select Smaller Cos (UK equity)
