Peter Fitzgerald
“In May, we made no changes to our portfolio. The best performing fund in absolute terms was the Nevsky Global Emerging Markets Fund with a return of some +3.44 per cent compared to the MSCI Emerging Market Index return of +2.09 per cent. We continue to rate this team. It is also worth highlighting the exceptional performance of the IdB Real Estate fund which managed to post a positive return for the month of 1.5 per cent despite a 3 per cent fall in European property indices. The manager reduced net exposure to as low as 15 per cent during the month by increasing short positions and this helped support performance.” ”
AMOUNT (E) FUND 12,500 ARS - Directional Managers 12,500 ARS - Market Neutral 10,000 ABN AMRO Europe Bond 10,000 Pimco Total Return 7,000 AXA-Rosenberg US Equity Alpha 7,000 IdB Equity Income 7,000 Wellington US Research 5,000 Advent Global Convertibles Securities Strategy 5,000 IdB Alchemy N.V. 5,000 IdB Real Estate Equity 4,000 First State Asia Pacific Leaders 4,000 Nevsky Emerging Markets 4,000 Odey Pan European 3,000 Schroder Tokyo 2,000 SIM Global Best Ideas 2,000 Cash
