Gary Potter and Rob Burdett
“In Euro terms, February was a mixed month for our balanced portfolio. The underperformance of bonds does not yet attract us to bottom-fish and add to our positions here, preferring the insulation that the two in-house funds we are using (Thames River High Income and Thames River Global Bond) give us from the worst of the credit crunch continuation. Within equities we increase Japan at the expense of holdings in the UK and Europe with the introduction of JO Hambro Japan Growth. This value-biased fund has been targeting the oversold stocks in the Japanese market on good absolute valuations.”
AMOUNT (E) FUND
15,000 Blackrock Absolute Alpha (UCITS III narrow long-short equity)
10,000 Findlay Park US Smaller Companies (quality value driven small and mid-cap
10,000 Invesco Sterling Bond (flexible sterling fixed income)
10,000 Thames River Global Bond EUR (total return global short duration)
10,000 Thames River High Income EUR (active top-down/bottom up ?-hedged)
8,000 Coupland Cardiff Japan (flexible absolute return-driven)
6,000 IVI European (intrinsic value-driven cash flow focus)
6,000 Nevsky Global Emerging Markets Fund (directional long-only equity)
5,000 Cazenove European (business cycle relative value)
5,000 JO Hambros Capital Management European Select Values intrinsic value/special situations)
4,000 JO Hambro Capital Management Japan (value-driven mid-cap bias)
4,000 Rensburg UK Managers' Focus (focus fund pooling 4 managers' best ideas)
4,000 Veritas Asian Fund (real return asian equity)
3,000 Old Mutual Dublin UK Select Smaller Cos (capacity limited UK small cap top-down/bottom up)
