Gary Potter and Rob Burdett

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From Fund Selection 01 June 2009

By PWM Editor

“The rebound continued to be led by risky assets in April – good news for holdings such as Old Mutual UK Select Smaller Companies (which rose over 20 per cent) and also good for equity funds focused on Asia, the emerging markets and Europe. Government bonds did not do as well, although corporate bonds participated. We remain happy with the blend of funds and assets in our portfolio and undertook no changes this month. Looking ahead, the rally has some momentum now with plenty of bears yet to capitulate but the relentlessness of the rally concerns us in the very short term.”

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