Julien Moutier
“In September, returns on our portfolio were mostly negative, penalised by European and Asian equities. The only assets that supported were Euro fixed income investments and Volatility. Let’s mention the particular resilience of Uniglobal Minimum Variance Europe which benefits from its defensive stance. We trimmed our position on high yield from 5 per cent to 3 per cent in order to reduce our bias toward credit given the current context. The sale enabled us to finance an increased position in Ecofi Quant Trésorerie Dynamique that aims to outperform cash.”
AMOUNT (E) FUND
17,000 FundQuest Bond Opportunities (bond total return)
16,000 PAM Bonds Euro (core euro bond)
12,000 BNP Paribas Convertible Europe (European convertible)
10,000 Ecofi Quant Trésorerie Dynamique (enhanced cash)
9,000 Uni-global Minimum Variance Europe (defensive European equity)
7,000 Carnegie Fund European Equity (opportunistic European equity)
6,000 Lyxor Quantic Progressive (total return)
6,000 Raiffeisen 313 Trend Follower Bonds (euro flexible bond)
5,000 Franklin Mutual Beacon (defensive US equity)
5,000 Threadneedle Asia Growth Fund (core Asian equity)
3,000 AXA IM US High Yield Short Duration (defensive US high yield)
2,000 AXA Or et Matières Premières (commodities equity)
2,000 Centrale Long Vol (volatility trading)
