Lionel De Broux

“The portfolio has delivered positive returns over the last month. Return has been supported by the strength of the dollar and several of our positions have strongly performed such as Aberdeen World Equity, BGF US Flexible Equity or Schroder ISF Global Fixed Income. On the other side, we have suffered from the correction of our CTA exposure as DB Systematic Alpha plunged by more than 2 per cent. We have implemented one change this month, with the switch of our exposure from DWS Convertible into LO Funds Convertible Bond.”