Guy Ester

Amount to spend: E100,000 “Credit Suisse US equity has a predominantly value focus and is not necessarily defined by low price/earnings stocks. The Wellington fund is essentially sector neutral with bottom-up stock selection in each sector. Research is sector specific teams of career analysts. The Cambian Fund focuses on cash-rich businesses. The portfolio manager is an active shareholder in the companies he holds. The Gartmore CSF Continental Europe is a high turnover, high risk-control portfolio. The Mercury ST European High Yield focuses on avoidance of defaults.” Amount (E) - Fund 7000 - Credit Suisse US Equity (US large cap) 10,000 - Wellington US Equity Research (US large cap) 3000 - Cambrian Fund (very focused US small/mid-cap) 7000 - Gartmore CSF Continential Europe (predominantly large cap growth focused on Europe ex-UK stocks) 3000 - Mercury ST European Opps (Europe mid cap focus) 3200 - HSBC UK Equity (UK core with value bias) 800 - SVM UK Growth (UK opportunistic portfolio) 2800 - Martin Currie Japan (Japan large cap) 1200 - Mercury ST Japanese Opps Pacific (Japan small cap) 2000 - Aberdeen Asia Pacific (“As close as one can come to Asia ex-Japan core”) 32,000 - ABN Amro Fixed Income (European bonds) 4000 - Mercury ST European High Yield (high yield corporate bonds issued in Euros) 4000 - Ashmore EMLIP (Sovereign High Yield) 20,000 - Insinger Zeus (hedge fund of funds)