Gary Potter and Rob Burdett

“The appetite for risk assets continued to lead markets in February, albeit in a more muted fashion, following the latest Greek bail-out agreement shoring up sentiment. European equities took the lead with bonds making positive but uninspiring ground overall. Tiburon Taipan benefited from a surge in Asian markets, which it outperformed. The dollar weakened against consensus causing Thames River Global Bond fund to lose ground in the short term, thanks to their long dollar exposure. We remain cautiously positive following such a strong start to the year, but expect volatility to remain a feature.”