Hans-Erik Ribberholt
“Robeco Lux-o-rente was the best performing fund in January as government bonds rose amid the turmoil in financial markets. This fund uses a proprietary model to continually adjust the interest rate sensitivity to the economic outlook. The Senior Bank Loans suffered under the fallout from the credit markets and general risk aversion. Default rates are currently at a very low level and will most likely increase in 2008 but this scenario already seems to be more than priced in at current levels. The equity funds took a hit in January but we still prefer to overweight equities at the expense of bonds.”
AMOUNT (E) FUND
20,000 ING Senior Secured Loan (short-term secured loans hedged to euro)
5,000 Robeco Lux-o-rente (European government bonds)
10,000 Evli Ruble Debt (corporate rouble debt)
10,000 Dexion Absolute Limited
10,000 Fidelity American Growth (US equities)
5,000 Credit Agricole ASEAN (equities ASEAN countries)
10,000 Evli Greater Russia
5,000 Danske Capital Financial and Investments (financial sector Eastern Europe)
10,000 Danske Fund Europe (European equities)
15,000 Nevsky European Absolute Return Fund (European equity)
