Steffan Selbach
“Because of the better technical situation of many equity indices, we now have a higher tactical exposure to equity. We bought Euroland equities because we believe that Europe, next to the emerging markets, should benefit most from the world-wide recovery story. Sentiment indicators and some real economic data indicate that the worst might be over. We still see a high potential for corporate bonds this year. For German government bonds we see the risk of a rising yield in direction to 3.4-3.5 per cent for 10 year-bonds so we reduced our position in Government-bond funds.”
AMOUNT () FUND
27,700 Deka-GeldmarktPlan TF (money market)
27,700 Deka-Institutionell Geldmarkt Garant TF (A) (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 DWS Aktien Strategie Deutschland (German equity)
3,500 PF(LUX)-US Equity Selection-P Cap (US 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 Comgest Growth PLC Emerg.Mkts (global emerging market equity)
1,500 JPMorgan Japan Select Equity (Japan equity)
