Julien Moutier
“Over the last two months, our portfolio has suffered from the strong correction on global equity markets. There was practically nowhere for investors to hide as both developed and emerging countries dropped dramatically. On the other hand, government bonds and total return vehicles brought positive returns, where implied volatility didn’t get in the way by playing a defensive role. We introduced the fund ‘Lyxor Quant Progressive’ which aims to generate returns with a low correlation to bonds or equities. It favours hidden assets such as volatility and correlation. We’ve increased our holdings on US high yield bonds, benefiting from their recent correction.”
AMOUNT (E) FUND
17,000 FundQuest Bond Opportunities (bond total return)
16,000 PAM Bonds Euro (core euro bond)
12,000 BNP Paribas Convertible Europe (European convertible)
9,000 Uni-global Minimum Variance Europe (defensive European equity)
7,000 Carnegie Fund European Equity (opportunistic European equity)
6,000 Ecofi Quant Trésorerie Dynamique (enhanced cash)
6,000 Lyxor Quantic Progressiv (total return)
6,000 Raiffeisen 313 Trend Follower Bonds (euro flexible bond)
5,000 AXA IM US High Yield Short Duration (defensive US high yield)
5,000 Franklin Mutual Beacon (defensive US equity)
5,000 Threadneedle Asia Growth Fund (core Asian equity)
4,000 Centrale Long Vol (volatility trading)
2,000 AXA Or et Matières Premières (commodities equity)
