Bernard Aybran
“We have made changes to our balanced portfolio this month in both the fixed income side and equities. “First, we came back to the convertible bonds area using a cautious fund, focused on both equity delta and a real bond floor. Second, we no longer invest in the large money market holding we used to earlier in the year. Finally, we have initiated a US equity holding – an area we had been out of for months – via a fund focused on high yielding stocks.”
Amount (E) Fund
20,000 MultiAlternatif Equilibre (fund of hedge funds)
10,000 Fortis Convertibles Europe (convertible bonds)
7000 CAAM Obligations International (sovereign debt)
7000 Saint-Honoré Signatures + (high-yield EUR)
7000 Franklin Mutual European Equity (Europe equity)
7000 Amérique Rendement (US equity)
7000 Carmignac Euro Investissements (European equity)
6000 Victoire Oblig Internationales (global fixed income)
5000 Centifolia (French equity)
5000 ML Global Energy (global energy)
5000 Socgen International (global equity)
4000 Fortis Europe Energy (Europe energy)
4000 Tricolore (French equity)
3000 JPMF Natural Resources Resources (commodities)
3000 ML World Mining (global mining)
