Graham Duce
“While a high degree of uncertainty remains associated with the severity of the economic downturn, there are signs that the credit crunch is easing and this month saw global equity markets recover some of the previous month’s lost ground. The previous month’s fund switches into Melchior Select Japan Advantage and Martin Currie North American Alpha proved to be good trades as both funds were positioned well to capture the upside, finishing the month within the top quartile of their respective sectors. However the sharpness of the market recovery does raise some concerns and we have reduced our equity weighting in favour of cash.”
AMOUNT (E) FUND 19,000 Thames River Global Bond (Total return OECD bonds) 15,000 M&G European Leveraged Loan Fund (senior secured debt diversifier) 10,000 Mainfirst Avant Garde (pan-European growth concentrated equity) 10,000 Templeton Asian Bond Fund (Asian bond & currency fund) 9,000 Martin Currie North America Alpha 8,000 JO Hambro Capital Markets Continental European (continental European blend sector driven equity 8,000 Resolution Cartesian UK Equity 130/30 Fund 6,000 Melchior Select Japan Advantage 5,000 Findlay Park US Smaller Cos (fundamental value small cap) 4,000 JPM Emerging Markets Alpha Plus (flexible total return emerging equity) 4,000 Thames River High Income (global credit flexible total return 2,000 Cash
