Peter Fitzgerald
“There is little need to comment on market movements in January, but which managers did well (or not!) is certainly of interest. The MSCI Europe ex UK Index fell more than 12 per cent. The IdB Equity Income fund, which made full use of its flexible mandate, hedged its exposure during the month and fell only 4 per cent. This helped compensate for the poor performance from the Artemis European Growth Fund, which returned -15 per cent. Given the poor performance of this fund last year and the apparent difficulty of the quant processes in general to outperform in a non-trending market, this fund is under close watch.”
AMOUNT (E) FUND
12,500 ARS - Market Neutral
12,500 ARS - Directional Managers
10,000 ABN AMRO Europe Bond
10,000 Pimco Total Return
7,000 IdB Equity Income
5,000 AXA-Rosenberg US Equity Alpha
5,000 Advent Global Convertibles Securities Strategy
5,000 IdB Alchemy N.V.
5,000 IdB Real Estate Equity
5,000 Wellington US Research
4,000 Thames River Emerging Markets
4,000 First State Asia Pacific Leaders
3,500 Artemis European Growth
3,500 Odey Pan European
2,000 Invesco Perpetual High Income
2,000 Schroder Tokyo
2,000 Schroder Agriculture
2,000 SIM Global Best Ideas
