Graham Duce

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From Fund Selection 01 July 2007

By PWM Editor

“Despite another strong month for equity markets, we still believe we are now entering a difficult seasonal period for the equity markets. Short-term sentiment indicators suggest the markets are due a pause. A healthy market correction, which could be caused by any event that causes global de-risking and profit taking, could be soon approaching. With this in mind we continue to de-risk the portfolio, moving 2 per cent out of JO Hambro Continental European equity and increasing our allocation to Credit Suisse Target return fund.”

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Graham Duce

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