Julien Moutier
“Our balanced portfolio has again benefited from our bets on gold, commodities and Asia (via holdings on convertibles bonds and equities), which performed strongly in April. European convergence equities have also bounced back sharply, outperforming Western indices. Our low duration exposure has once again protected investors from capital depreciation. This month, we slightly increased exposure to Eastern European equities while also reducing our weighting on total return strategy and commodities, as the latter appears overbought.”
Amount (E) Fund
15,000 CAAM Dynarbitrage Var 20 (Total Return)
15,000 Mellon Global Bonds (Global Bond)
12,000 Phenix Alternative Holdings (Multi-strategy)
9,000 Alternatime 300 (Total Return)
7,000 Convertible Fund – Convertible International (Convertible Bond)
7,000 PAM Bonds Higher Yield (Emerging and High Yield Bonds)
6,000 Legg Mason Japan Equity Fund (Japanese Growth Equity)
6,000 Mainfirst Avantgarde Stock (European Growth Equity)
6,000 Westam European Convergence Fund (European Convergence Equity)
5,000 Carmignac Investissement (Flexible Global Equity)
5,000 Fidelity South East Asia (Asian Growth Equity)
4,000 Parvest World Technology (Global Tech Equity)
3,000 AXA Or et Matières Premières (Commodities Equity)
