Guenter Woinar

“As economic data keeps improving, we leave our portfolio unchanged and remain overweight in equities. We are particularly biased towards emerging markets. Both First State and Griffin have done a very good job in last few weeks. In the fixed income we still prefer high yield and corporates over government bonds.”

Amount (E) Fund

13,000 DWS Vermoegensbildungsfonds I (global equity)

12,000 Nordea I North American Value

11,000 Fidelity European Growth

9000 DIT Europazins (European bonds)

8000 American Express Epic Global High Yield Euro

8000 JPM Fleming International Bond

8000 Meinl European Land (Eastern European real estate)

6000 American Express Epic Emerging Market Liquidity

6000 Invesco Extra Income (global corporate bonds, focus BB rating)

5000 Griffin Eastern European (Eastern European equity)

5000 Merrill Lynch US Small Cap Value

5000 Aberdeen Sovereign High Yield Bond (emerging markets bonds)

4000 First State Global Emerging Markets Equity