Michael Richter
“Our last scale back in equities paid off as stock markets declined sharply in October. As we see as equities much more attractive than bonds, we sold the American Express Global High Yield Euro fund and increased the broadly diversified Magna Global Emerging Markets Equity fund. We switched the Henderson HF Global Property fund into Henderson HF Asian Property fund, which will reap the benefits of the real-estate prices in Asia. We also raised our Japan exposure through the M&G Global Leaders fund.”
Amount (E) Fund
10,000 Meinl European Land (Real estate Eastern Europe)
10,000 Magna Global Emerging Markets Equity
8,000 Dexia Inflation Linked Bond Fund
7,000 American Express Epic Global Emerging Market Short Term Bond Fund ?-hedged
7,000 BondPortfolio Preferred Securities
6,000 M&G Global Leaders (Equity global)
6,000 Fidelity European Growth
6,000 Spaengler Cash Trust
5,000 Henderson HF Asian Property Fund
5,000 American Express European Small & Mid Cap
4,000 Henderson Pan European Equity Multi Strategy Fund (renamed from Henderson European Equity Market Neutral Fund)
4,000 Dexia Credit Arbitrage
4,000 Janus Risk Managed Core Fund (US equity)
6,000 AXA Rosenberg Japan Equity Alpha
4,000 Pioneer US Mid Cap Value EUR
4,000 First State Global Resources Long/Short Equity Fund
4,000 DIT Europazins (Austria) (European investment grade bonds)
