Michael Richter

“Given the steadily improving economic data in the developed market and still very high growth rates in the emerging markets, we remain overweight in equities. We are still optimistic for the future development of emerging markets and are also convinced that the Japanese market, which is covered with the Newton Japan fund in our portfolio, will perform well in the next few months.”

Amount (E) - Fund

11,000 - Fidelity European Growth

10,000 - DWS Vermoegensbildungsfonds (global equity)

8000 - Nordea I North America Value

8000 - American Express Epic Global High Yield Euro

8000 - JPM Fleming International Bond

8000 - Meinl European Land (real estate Eastern Europe)

8000 - American Express Epic Emerging Market Liquidity

7000 - Invesco GT Global Corporate Bond Fund (global corporate bonds, investment grade)

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

6000 - Newton Japan Equity

5000 - Griffin Eastern European (Eastern Europe equity)

5000 - Aberdeen Sovereign High Yield Bond (emerging markets bonds)

5000 - Merril Lynch US Small Cap Value

5000 - Oyster FFP Emerging Markets