Claudio Barberis
“Markets have been weak in July. For the first time in a few months, bond markets have behaved as a hedge against equity markets. We are still investing in defensive equity funds, starting a position in the ING European High Dividend. We also increased our convertible bond exposure, because of the very conservative pricing of many convertible issues. We keep our exposure to long duration bonds (AXA 7-10) on the view that inflation will peak in the next few months.”
AMOUNT (E) FUND
8,000 Allianz RCM Systematic Equity
8,000 AMEX-GEMAR AEH?
7,000 Allianz RCM Europe Equity Growth
7,000 AXA WF Euro Bond 7-10
7,000 JB Absolute Return Bond
5,000 GLG GL CONV N
5,000 GLG Performance Fund
5,000 ING EUROPE HIGH DIVIDEND
5,000 MLIIF W.GOLD$
5,000 Morgan Stanley Global Brands
5,000 Parvest Abs Return Bond
5,000 UBS EURO CORP
5,000 Vitruvius European Equity
5,000 Vitruvius Japanese Eq.
4,000 AMEX World Energy
4,000 Deka Xtension CF EUR
4,000 GLG European Equity
4,000 M&G Global Leaders
2,000 HSBC Asia Freestyle
