Christian Jost

“During October, international stock markets were supported by positive developments in the general business climate. The EU Business Climate Indicator, for example, increased to 0.98, a value last time seen in September 2007. Consensus expectations were around 0.76. European sovereign bonds on the other hand retreated due to growing concerns about the Irish sovereign debt situation. Our portfolio, which is allocated according to C-Quadrat Best Fonds Strategy, reacted to this market environment by slightly decreasing European bonds and increasing cash.”