Pierre Bonart
“It is not surprising to see markets behaving in a more tactical way, as investors adapt to the monetary tightening anticipated in the US. It may take a few months before visibility comes back; sector rotation is likely to continue to the benefit of larger caps and companies which have visible and stable earnings growth. We maintain a low exposure to small caps and our stance favouring quality growth. We remain underweight in fixed income, with an overweight on high yield bonds.”
Amount (E) Fund
22,500 Louvre Multi Select Global Bond Fund
17,000 Legg Mason America Value
8250 T Multivalor
7500 Credit Suisse Asset Management Convertible Bond Europe
7500 Croissance Euro Actions (Euro growth equities)
6250 MLIIF World energy fund
5000 Capital International Fund (world equites)
5000 Nouvelle Croissance Asie (Asian ex Japan equities)
5000 Agressor - La Financiere de l'Echiquier (small-cap value)
5000 Pimco Total Return (US fixed income)
5000 Nouvelle Croissance Japon – Invest Asia (small/mid cap growth)
3000 Louvre Multi Select Emerging Equity
3000 Wanger AM New America Small caps
