Management selection team, Eurizon Capital

“In October we didn’t make any changes to the portfolio. We were hurt by our slight underweight in equities but we had no exposure to corporate issuers in the fixed income part of the portfolio. We got good contribution to performance from GLG Japan CoreAlpha, UBAM US Value and M&G Global Basics. Nordea European Value and Vontobel Global ex US posted disappointing results in their respective asset classes. A positive contribution came from Generali Euro Bond as well, outperforming by 78 bps its benchmark. The bond portion of our portfolio remains invested in pure Government bond funds, as we maintain our conservative approach.”