Robert Burdett

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From Fund Selection 01 December 2005

By PWM Editor

“October finally saw the bull run pause, with sharp falls in most markets in euro terms. Our Japanese selection bucked the trend with its domestic small cap focus benefiting from improving Japanese economic data. We are of the belief that the bullish camp will be right but not without some moments of nervousness. Consequently, we choose to remain fully invested. One asset allocation change this month is to increase emerging markets out of bonds.”

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Robert Burdett

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