Robert Burdett
December saw a strong run into year-end with high beta working well, most notably in Japan and the emerging markets. For 2006 we choose to stick with overweight in this area, although Japan looks a little stretched in the short term. We also like the look of continental Europe for recovery in 2006 and are happy with our overweight here. 2006 looks tricky for bonds and the mix of flexible funds will be key. We stay underweight as we enter the new year.”
Amount (E) Fund
16,000 CS Bond Lux Target Return Euro (Total return, long only)
15,000 Thames River Global Bond (Total return OECD bonds)
14,000 JO Hambro Capital Markets Continental European (Continental European blend sector driven Equity)
13,000 Mellon UG Global Bond (Global macro bonds)
12,000 Mainfirst Avant Garde (Pan-European Growth concentrated equity)
8,000 Legg Mason Strategic Value (US Large Cap Value)
8,000 JO Hambro Capital Markets UK Growth (UK blend active)
5,000 Atlantis Japanese Opportunities (Japanese Garp equity small cap)
4,000 Thames River Global Emerging Markets (Pragmatic emerging equity)
4,000 Baring High Yield Bond (High yield debt)
2,000 Franklin Mutual Beacon (US mixed asset total return)
2,000 New Star Asian Opportunities (Macro/stock-picking GARP/Growth style)
