Georges Wolff
“Absolute return funds have generally come under heavy pressure during the October market turmoil. Strong redemption flows and worsening liquidity conditions might impact the liquidity profile of these funds. To reduce the specific risk of the portfolio, we have redeemed our position in the Julius Baer Bond Absolute Return Fund. We have reinvested the proceeds in the Sinopia AF 300 Euro. We have also initiated a position in the DWS Invest Convertibles LC fund. Convertible bond valuations are at historically low levels, providing an attractive way of gaining exposure to equity markets”
AMOUNT (E) FUND
19,000 BGF Global Allocation Fund A2 USD (asset allocation neutral)
16,000 Templeton Global Bond A MDis USD (bond global)
16,000 Sinopia AF GBMN 300 E (bond global)
7,000 Sparinvest-Global Value EUR R (equity global)
7,000 DWS Global Value (equity global)
6,000 Investec American A Acc Net (equity USA)
6,000 BGF US Flexible Equity Fund A2 USD (equity USA)
6,000 Parvest USA C (equity USA)
4,000 DWS Invest Convertibles LC (convertible global)
3,000 GAM Star Japan Equity JPY Acc (equity Japan)
2,500 Petercam Equities Europe Dividend Cap (equity Europe)
2,500 Nordea 1 - European Value Fund BP EUR (equity Europe)
2,500 Carnegie Fund - European Equity (equity Europe)
2,500 Grande Europe A (equity Europe)
