Julien Moutier
“High grade and high yield bond spreads widened during the last few weeks of the month as a slowdown in US growth was confirmed. Accordingly, we cut our high yield exposure (PAM Bonds Higher Yield) by implementing a flexible euro government fixed-income fund – Raiffeisen 313 Trend Follower Bonds, which is run through a quant model that follows strong trends on euro government bonds. We cut State Street Euroland Equity Fund, enabling us to finance the acquisition of Uni-global Minimum Variance Europe.”
AMOUNT (E) FUND
17,000 FundQuest Bond Opportunities (bond total return)
16,000 Alternatime 300 (total return)
16,000 PAM Bonds Euro (euro bond)
12,000 BNP Paribas Convertible Europe
9,000 Uni-global Minimum Variance Europe (defensive European equity)
7,000 Carnegie Fund European Equity
6,000 ADI Crédit Arb Absolu
6,000 Centrale Long Vol
6,000 Raiffaisen 313 Trend Follower Bonds (euro flexible bond)
5,000 Fidelity South East Asia (Asian growth equity)
