Bernard Aybran
“Managing a portfolio always comes down to stock-picking and asset allocation. This column is dedicated to the former. But, more than ever, both are closely linked to each other. Thus, conservativeness is a common feature to every fund in the portfolio. This can be simply reached by pure money market, without any credit risk, or it can be reached by hedging the portfolio against the inflation. On the equity side, conservative strategies as well as visible growth strategies must be favoured. The most battered sectors and themes are, at some point, becoming bargains (eg energy stocks).”
AMOUNT (E) FUND
40,000 Invesco Euro Liquidity Portfolio (money market)
20,000 CS Tremont All Hedge (fund of hedge funds)
7,500 L Select - US Select Growth (US equity)
5,000 Blackrock Global High Yield (corporate high yield)
5,000 Oblig Inflation World (index-linked bonds)
5,000 Centifolia (French equity)
5,000 Invesco Energy (energy global)
5,000 Magellan (emerging equity)
5,000 Skandia US Large Caps Value (US equity)
2,500 Invesco Pan-European Structured (Europe equity)
