Guenter Woinar

“Due to negative market sentiment and poor economic data, we have further cut our equity exposure by reducing the Fidelity PA European Growth from 5 per cent to 3 per cent of the portfolio. The remaining 2 per cent of the portfolio has been added to the Euro-hedged Aberdeen Sovereign High Yield Bond Fund, which we expect to keep doing very well over the next months.” Amount (E) - Fund 22,000 - JPM Fleming International Bond 18,000 - Templeton Growth Euro (global equity value) 15,000 - DIT Europazins (European bonds) 11,000 - Aberdeen Sovereign High Yield Bond (emerging markets) 10,000 - Nordea I North American Value 6000 - Oppenheim European Opportunities 5000 - JPMF Europe Strategic value 5000 - First State Global Emerging Markets 5000 - Merrill Lynch US Small Cap Value 3000 - Fidelity PA European Growth