Steffan Selbach
“We still hold on to our allocation. In equities, we are underweight to our neutral position but we are looking to increase our exposure. The reports for the first quarter from US and European companies are better than expected and economic indicators signal that perhaps the market has reached the bottom. We still focus on the European and emerging markets where a recovery of the global economy should have the larger impact. For goverment bonds we still see the risk of rising yields into the direction of 3.4/3.5 per cent for 10 year-bonds. The large supply from governments should put further pressure on the bond market”
AMOUNT () FUND
27,700 Deka-Institutionell Geldmarkt Garant TF (A) (money market)
27,700 Deka-GeldmarktPlan TF (money market)
8,000 BlackRock Global Funds - Euro-Markets Fund A2 EUR (Euroland equity)
7,000 Franklin Mutual European Fund Class A (acc) (European equity)
4,850 Deka-ConvergenceRenten CF (European convergence bonds)
4,250 cominvest Fund Euro Corporate Bond (investment grade corporate bonds)
3,500 PF(LUX)-US Equity Selection-P Cap (US equity)
3,500 DWS Aktien Strategie Deutschland (German equity)
3,250 Threadneedle European High Yield Bond (high yield corporate bonds)
3,000 PF(LUX)-US Equity Selection hedged (US equity)
2,250 Deka-Global ConvergenceRenten CF (global emerging market equity)
2,000 Deka-PrivateEquity (listed private equity)
1,500 JPMorgan Japan Select Equity (Japan equity)
1,500 Comgest Growth PLC Emerg.Mkts (global emerging market equity)
