Professional Wealth Managementt

By PWM Editor

“Speculation has centred on how quickly the US Federal Reserve will raise interest rates and how this will impact on the dollar/euro rate. Fed Chairman Alan Greenspan should lift the target rate to 3.5 per cent at the end of 2005. We expect the dollar to continue weakening against the euro. Therefore we partly hedged our US-exposure by replacing the Merrill Lynch US Small Cap Value with the euro-hedged Pioneer US Mid Cap Value fund.

 

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