Graham Duce
“Last year Japan was the worst performing developed market and so far this year it has continued to detract performance despite the revaluation of its currency. We now believe that the market offers investors some exceptional value and that the fear and disappointment surrounding economics and politics are already in the market price of equities. With this in mind we have sold out of the JPM fund to take a position in Melchior Japan Advantage, a large cap fund that will allow us to capture more market beta on the upside, but due to its value bias ensure relative protection on any market set backs”
AMOUNT (E) FUND
19,000 Thames River Global Bond (Total return OECD bonds)
15,000 M&G European Leveraged Loan Fund (senior secured debt diversifier)
10,000 Mainfirst Avant Garde (Pan-European growth concentrated equity)
10,000 Martin Currie North America Alpha
10,000 Templeton Asian Bond Fund (Asian bond & currency fund)
8,000 JO Hambro Capital Markets Continental European (continental European blend sector driven Equity
8,000 Resolution Cartesian UK Equity 130/30 Fund
7,000 JPM Emerging Markets Alpha Plus (flexible total return emerging equity)
5,000 Findlay Park US Smaller Cos (fundamental value small cap)
4,000 Melchior Select Japan Advantage
4,000 Thames River High Income (global credit flexible total return)
