Peter Fitzgerald
“We made a number of strategic changes to the portfolio this month. We did not make any changes in the allocation to equities, fixed income or alternatives, which remain broadly the same. We sold our holding in the Thames River Global Bond fund, increased our allocation to convertibles which now make up 27 per cent of our fixed income exposure and also increased the allocation to ABN Amro and PIMCO fixed income funds. We also made a number of changes in our equity holdings. We sold our position in the Odey Pan European fund to consolidate our European holdings and to increase our allocation to the US. The US now represents 20 per cent of the equity exposure.”
Amount (E) Fund
4,500 Artemis European Growth
4,500 JO Hambro Continental European
4,500 IdB Equity Income
2,500 AXA-Rosenberg US Equity Alpha
2,500 Invesco Perpetual High Income
2,500 Wellington US Equity Research
2,200 Thames River Global Emerging Markets
2,000 Standard Life UK Equity High Income
2,000 Aberdeen Asia Pacific
1,900 Schroder Tokyo
1,900 Polar Capital Japan
1,500 First State Asia Pacific Leaders
1,500 Rodina Fund Ltd.
1,400 Cambrian
1,300 Cazenove UK Growth & Income
1,200 Henderson Pan European Smaller Companies
1,100 Genus 15
1,000 Orbis Japan
