Peter Fitzgerald
“The best performing fund last month was the Nevsky Global Emerging Markets fund, which returned over 10 per cent in euro terms. The major under-performer was the Invesco Perpetual UK Equity High Income Fund with a loss of 6 per cent in euro terms. We have made no manager changes during March, following the changes towards the end of February. The Bluebay High Yield Bond fund delivered a return of +2 per cent since our investment. With some 37 per cent of the portfolio invested in equities, we are participating in this equity rally, which could well continue longer than many market participants believe.”
AMOUNT () FUND
12,500 MM European Bond
12,500 Pimco Total Return
11,500 Cash
7,500 ARS - Directional Managers
7,500 ARS - Market Neutral
7,000 AXA-Rosenberg US Equity Alpha
7,000 Wellington US Research
5,000 IdB Equity Income
5,000 Invesco Perpetual High Income
5,000 Odey Pan European
4,000 Bluebay
4,000 First State Asia Pacific Leaders
4,000 Nevsky Emerging Markets
2,500 Cazenove Euopean Absolute
2,500 IdB Real Estate Equity
2,500 Odey European Inc
