Peter Fitzgerald
“The best performing equity managers were Wellington & Axa Rosenberg in the US, both returning approximately 7 per cent. The emerging markets did poorly as the decoupling thesis faced the reality of a global integrated economy. Our European managers substantially outperformed, returning 4.6 per cent (IdB Equity Income) and 3.2 per cent (Odey) compared to a market return of approximately 1.5 per cent. These are also the two best performing equity managers, year to date, underlining the importance of having a willingness to make changes as market circumstances dictate. Hedge funds disappointed.”
AMOUNT (E) FUND
12,500 ARS - Directional Managers
12,500 ARS - Market Neutral
10,000 ABN AMRO Europe Bond
10,000 Pimco Total Return
7,000 AXA-Rosenberg US Equity Alpha
7,000 IdB Equity Income
7,000 Wellington US Research
5,000 Advent Global Convertibles Securities Strategy
5,000 IdB Alchemy N.V.
5,000 IdB Real Estate Equity
4,000 First State Asia Pacific Leaders
4,000 Nevsky Emerging Markets
4,000 Odey Pan European
3,000 Schroder Tokyo
2,000 SIM Global Best Ideas
2,000 Cash
