Management selection team, Eurizon Capital

“Last month we made only one adjustment to our portfolio, replacing the position in Pictet Japan fund with GLG Japan CoreAlpha Equity fund, a new addition in our selection of funds. The best contributors to the performance have been Generali Euro Bond, Vontobel US Value, Vontobel Global Value ex US and Janus US Strategic Value fund. Instead, we got a negative contribution especially from M&G Recovery. The bond portion of our portfolio remains invested in pure government bond funds, as we maintain our conservative approach.”