Peter Fitzgerald

“We used the market volatility in March to reduce fixed income and increase equities and alternatives. The allocation is now 40 per cent equities, 40 per cent alternatives (hedge, property, convertibles) and 20 per cent fixed income. On the equity side, we added the JPM Emerging Market Alpha Plus Fund, which provides exposure to emerging markets, but the manager will use the full flexibility of the Ucits III powers to hedge market risk and can take exposure as low as 25 per cent with various derivative instruments. We also allocated money to property and used the IdB Real Estate Equity Fund, which is the first property hedge fund with a three-year track record.”