Bernard Aybran, head of manager<br>Based in: Paris, France
“We are slowly taking profits on the equity part of the portfolio that has produced decent returns over the last few months. Thus, we sold our holdings in mining stocks and emerging Asia. On the other hand, we added to our investment in healthcare and added a tech fund on a medium/short-term horizon. On the fixed income side, we have reduced our duration and started building a negative duration position. Going forward, our bias will be to go on taking profits on the equity side.”
Amount (E) | Fund
20000 | MultiAlternatif Equilibre (fund of hedge funds)
6000 | Franklin Mutual European Equity (Europe equity)
5000 | Agressor (French equity)
5000 | ML Focused Value (US equity)
5000 | Saint Honoré Vie et Sante (consumer non-cyclical)
5000 | Socgen International (global equity)
5000 | Wellington Global Health Care
4000 | LPF Oblig Inflation
4000 | Fortis Convertibles Europe
4000 | Axa Rosenberg Japan Small caps
4000 | CS Global Technology (IT)
4000 | Polar Japan Fund
3000 | CS Target Return (money market)
3000 | Saint Honoré Signatures + (high yield euro)
3000 | Callander Assets (US small caps)
3000 | Centifolia (French equity)
3000 | CS Global Resources (commodities)
3000 | Fidelity South East Asia
3000 | Legg Mason US Small Caps
2000 | Oblig Inflation (index-linked bonds)
2000 | Elan Convertibles Europe
2000 | Goldman Sachs Global High Yield (high yield $)
2000 | Centrale Mid Caps Europe (Europe small caps)
