Gary Potter and Rob Burdett
“From a Euro investor’s perspective home markets were the safe(r) haven during an awful month for anyone taking investment risk. Our defensive stance helped somewhat, but recent investments overseas only outperformed on a relative basis – JO Hambros Japan for example giving top quartile relative returns. Holdings we continue to favour would include IVI European which has held up well so far in 2008. The Far East and other emerging markets continue to gyrate wildly and yet overall the prospects continue to support an overweight stance, and if markets rebound, these regions should contribute.”
AMOUNT (E) FUND
15,000 Blackrock Absolute Alpha (UCITS III narrow long-short equity; absolute return)
10,000 Findlay Park US Smaller Companies (quality value driven small and mid-cap; US equity)
10,000 Invesco Sterling Bond (flexible sterling fixed income; sterling fixed)
10,000 Thames River Global Bond EUR (total return global short duration; global sovereign fixed)
10,000 Thames River High Income EUR (active top-down/bottom up ?- hedged; global credit)
8,000 Coupland Cardiff Japan (flexible absolute return-driven; Japan equity)
6,000 IVI European (intrinsic value-driven cash flow focus; pan-euro equity)
6,000 Nevsky Global Emerging Markets Fund (directional long-only equity; GEM equity)
5,000 Cazenove European (business cycle relative value; Euro ex-UK equity
5,000 JO Hambros Capital Management European Select Values (intrinsic value/special situations; Euro Ex-UK equity)
4,000 JO Hambro Capital Management Japan (value-driven mid-cap bias; Japan equity)
4,000 Rensburg UK Managers' Focus (focus fund pooling 4 managers' best ideas; UK equity)
4,000 Veritas Asian Fund (real return Asian equity; Asia Pacific equity)
3,000 Old Mutual Dublin UK Select Smaller Cos (capacity limited UK small cap top-down/bottom up; UK equity)
