Graham Duce

“With the return of investor risk appetite during April, the strongest gains came from emerging equity markets and Asian equity markets. Accordingly, our positions in the Ignis Hexam Global Emerging Markets and Veritas Asian funds have proved fruitful. In light of the significant rebound in equity markets we have decided to reduce our directional exposure to Europe. We have made a partial disposal in the JOHCM Continental European Fund and switched the monies into the recently launched Gartmore Absolute Return Fund. This Ucits III vehicle will follow a similar strategy to the very successful Gartmore AlphaGen Capella hedge fund.”