Graham Duce
“Our overweight Japanese equity position has been beneficial over the last year mainly due to our underlying fund selection and yen exposure. While we still believe the Japanese market is attractive from a valuation stance, we are starting to see evidence of yen weakening and deteriorating economic fundamental, so we feel it’s prudent to lock in some of our profits. The UK market was a strong underperformer last year and our non beta allocation stance also generated relative gains. Given the current levels of both the equity market and sterling we feel more comfortable adding beta and increasing our UK weight.”
AMOUNT () FUND
15,000 BlueBay Investment Grade (European corporate)
14,000 Thames River Global Bond EUR (global sovereign fixed)
10,000 Templeton Asian Bond Fund (Asian bond/currency)
9,000 Martin Currie North American Alpha (US equity)
8,000 JO Hambro Capital Continental European (Euro ex-UK equity)
5,000 Blackrock Absolute Alpha (absolute return)
5,000 Findlay Park US Smaller Companies (US equity)
5,000 JPM US Select 130/30 (US equity)
5,000 Mainfirst Avant Garde (pan-Euro equity)
5,000 Resolution Hexam Global Emerging Markets (GEM equity)
4,000 Thames River High Income EUR (global credit)
3,000 Cash (money markets)
3,000 CF Walker Crips UK High Alpha (UK equity)
3,000 Melchior Select Japan Advantage (Japanese equity)
3,000 SG Japan Core Alpha (Japanese equity)
3,000 Veritas Asian Fund (Asia Pacific equity)
