Management Selection Team

“In March the portfolio yielded a performance in line with its benchmark. By the end of the first quarter, we decided to turn the portfolio a little more defensive, so we sold the position in Invesco Euro Corporate Bond, took some profit on our European Funds and decided to reinvest in the US market, in government bonds and to buy some cash, introducing the Generali Euro Liquidity Fund. We decided to switch to a large cap fund in the US portion of the portfolio, the Natixis US Value, instead of the Janus Strategic Value, which has an all-cap approach.”