Management Selection Team

“In October our portfolio outperformed the benchmark by 45 bps. Main contributors were the global, US and European equity funds, while the worst performers were the Japanese equity fund and the Euro bond fund. Among the European funds, the worst, yet positive, results were recorded by Oyster European Opportunities, that didn’t participate in the rally in the market as much as we expected. MS Global Brands: a very defensive fund, lagged its benchmark in this upside swing. Although worried by the sovereign crisis, we are confident a viable solution will be found to avoid a ‘worst case scenario’.”