Robert Burdett

“Japanese and Asian equities rescued the portfolio in a difficult month for equities in euro terms. High yield also delivered mildly negative returns in euros but Mellon performed well for us, as it is designed to do in months such as these. Following Patrick De Gorce’s resignation from Merrill Lynch we will be selling our holding in the ML Euromarkets fund, and replacing it with JO Hambro’s European product, run by the very experienced Rod Marsden.”

Amount (E) - Fund

14,000 - Baring High Yield Bond (high yield debt)

13,000 - CS Bond Lux Target Return Euro (total return, long only)

13,000 - Investec Select Global Bond (blend quality corporate)

10,000 - JO Hambro Capital Markets Continental European

10,000 - Mellon UG Global Bond (global macro bonds)

10,000 - Schroder ISF European Alpha (European ex-UK garp)

7000 - JO Hambro Capital Markets UK Growth (UK blend active)

6000 - Close Finsbury Japanese (Japanese Garp equity)

5000 - BDT Invest Asia (Asia equity absolute style)

4000 - Thames River Global Emerging Markets

3000 - Legg Mason Strategic Value (US large cap value)

3000 - Nordea American Value (mid and small caps)

2000 - GAM Star America Focus (US large cap)