Steffan Selbach

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From Fund Selection 01 December 2008

By PWM Editor

“During November, we only made two changes to our portfolio. First, we made a partial hedge in the US-Equity fund. We hedged 25 per cent US-Dollar in Euro. In our second transaction, we sold the BlackRock Euro Markets and bought the Franklin Mutual European fund because of the more defensive character of this fund.”

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Steffan Selbach

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