Julien Moutier
“Our balanced portfolio has benefited from our bets on gold, commodities and Asia, which performed strongly during March. In the context of a mini crash on bonds, our low duration bet and total return investments have protected investors from capital depreciation. This month, we slightly increased exposure to Japanese equities by reducing our stance on high yield bonds, as this asset class appears increasingly expensive. Following the end of the fiscal year, the Japanese market broke strong technical resistances and now appears well-orientated.”
Amount (E) Fund
15,000 CAAM Dynarbitrage Var 20 (Total Return)
15,000 Mellon Global Bonds (Global Bond)
12,000 Phenix Alternative Holdings (Multistrategy)
10,000 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 (Japanese Growth Equity)
6,000 Mainfirst Avantgarde Stock (European Growth Equity)
5,000 AXA Or et Matières Premières (Commodities 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 Westam European Convergence (Euro Convergence Equity)
