Georges Wolff
“The New Year brought several changes in the portfolio driven both by tactical decision and fund specific factors. Focusing on the fixed income, we have maintained our position in convertible bonds but we have also taken an exposure to high yield bonds in order to play spread tightening. We have made a few changes on the equity side. UBAM Neuberger Berman US Eq Value has been added to the portfolio, as the recent underperformance of the fund has led to an entry point. We have also replaced Grande Europe with funds focusing on Core European countries.”
AMOUNT (€) FUND
18,000 BGF Global Allocation Fund A2 USD (asset allocation neutral)
15,500 Templeton Global Bond A MDis USD (bond global)
15,500 Sinopia AF GBMN 300 € (bond global)
8,000 BGF US Flexible Equity Fund A2 USD (equity USA)
7,000 Sparinvest-Global Value EUR R (equity global)
7,000 DWS Global Value (equity global)
5,000 UBAM Neuberger Berman US Eq Value (equity USA)
5,000 Investec American A Acc Net (equity USA)
4,000 Henderson HF Pan European Equity A2 (equity Europe)
4,000 DWS Invest Convertibles LC (convertible global)
3,000 OYSTER European Opportunities EUR (equity Europe)
3,000 GAM Star Japan Equity JPY Acc (equity Japan)
3,000 Cazenove Pan Europe B EUR (equity Europe)
2,000 JPM Global High Yield Bond A Acc EUR (high yield)
