Pierre Bonart, head of multi-management, Louvre Gestion<br>Based in: Paris, France
“We reduced our exposure to emerging markets, which are sensitive to interest rate levels.
We also trimmed down our small-cap stance since we believe the environment will become more favourable to large caps. We kept underweight on the fixed income side, while staying overweight on high yield bonds, which offers some protection against rising government yields. The money resulting from the reduction in the equity stance is invested in a tilted money market fund.”
Amount (E) | Fund
22,500 | Louvre Multi Select Global Bond Fund
17,000 | Legg Mason America Value
8250 | T Multivalor
7500 | Croissance Euro Actions (Euro growth equities)
7500 | Credit Suisse Asset Management Convertible Bond Europe
6250 | MLIIF World energy fund
5000 | Capital International Fund (world equities)
5000 | Pimco Total Return (US fixed income)
5000 | Nouvelle Croissance Asie (Asian ex Japan equities)
5000 | Agressor – La Financiere de l’Echiquier (small cap value)
5000 | Nouvelle Croissance Japon – Invest Asia (small/mid cap growth)
3000 | Louvre Multi Select Emerging Equity Fund
3000 | Wanger AM New America Small Caps
