Graham Duce

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From Fund Selection 01 May 2008

By PWM Editor

“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. ”

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Graham Duce

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