Graham Duce
“While February saw the equity markets recover some of their loss ground, the month continued to be challenging for Global credit markets. Credit spreads have dramatically widened and offer longer term investors some interesting opportunities. Over the shorter term, negative news flow and increasing defaults continue to dominate investor sentiment. We have switched out of CS Target Return Fund replacing it with Templeton Asian Bond fund, replacing the credit risk with a more direct play on Asian currency appreciation. ”
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 Martin Currie North America Alpha
10,000 Templeton Asian Bond Fund (Asian Bond &Currency Fund)
8,000 JO Hambro Capital Markets Continental European (Continental European blend sector driven Equity
8,000 Resolution Cartesian UK Equity 130/30 Fund
7,000 JPM Emerging Markets Alpha Plus (Flexible total return Emerging equity)
5,000 Findlay Park US Smaller Cos (fundamental value small cap)
4,000 JPMF Tokyo Alpha Plus (pragmatic flexible trading
4,000 Thames River High Income (Global Credit Flexible Total Return
