Julien Moutier
“During the past month, our balanced portfolio suffered from our credit and equity exposures, due to the recent market correction. Our positions taken on total return strategies and high yield bonds contributed negatively to performance. Our equity funds penalised performance with the major indices slump explained by the fear of equity investors. We decided to maintain our positions. The fundamentals underpinning the equity rise are satisfactory and still in place. We think risky assets, notably equities, can be expected to start to move up again once the present crisis has been digested.”
Amount (E) Fund
16,000 FundQuest Bond Opportunities (Bond Total Return)
15,000 CAAM Dynarbitrage Var 20 (Total Return)
15,000 PAM Bonds Euro (Euro Bond)
13,000 Alternatime 300 (Total Return)
12,000 Cyril Convertible Taux (Convertible Bond)
9,000 PAM Bonds Higher Yield (Emerging and High Yield Bonds)
7,000 Morgan Stanley Japanese Equity Value (Japanese Value Equity)
6,000 AXA Or et Matières Premières (Commodities Equity)
4,000 Parvest Europe Value (European Value Equity)
3,000 Fidelity South East Asia (Asian Growth Equity)
