Lionel De Broux

“The first part of May has been rather shaky! Driven by the Greek crisis, volatility spike, Euro collapse and equity market correction have all been on the screens. In that context, we have been satisfied with the behaviour of our portfolio, especially on the fixed income side, where our exposures to emerging market debt combined with the USD effect have been strong performance drivers. In order to lock part of this performance, we propose to switch the position in the Templeton Global Bond and the BGF Global Allocation Fund A2 into their Euro hedge version, while remaining with the same allocation and underlyings.”