Michael Richter
“With the US dollar rallying against the euro we switched from the Pioneer US Mid Cap Value (Euro) into the unhedged Pioneer US Mid Cap Value fund. Furthermore, we replaced the Nordea 1 North American Value fund with the Janus Risk Managed Core fund. The rest of the portfolio remained unchanged as we still see stocks relative to bonds as relatively cheap, so we feel comfortable with a broadly diversified portfolio.”
Amount (E) Fund
12,000 American Express Epic Global Emerging Market Short Term Bond Fund (euro hedged)
10,000 Meinl European Land (real estate Eastern Europe)
8000 M&G Global Leaders (equity global)
8000 Dexia Inflation Linked Bond Fund
6000 Fidelity European Growth
8000 Magna Emerging Markets Equity
7000 Invesco GT Global Corporate Bond Fund (global corporate bonds)
6000 Spaengler Cash Trust
6000 Magna Eastern European Fund
5000 American Express European Small & Mid Cap
4000 Henderson European Equity Market Neutral Fund
4000 Dexia Credit Arbitrage
4000 Janus Risk Managed Core Fund (US equity)
4000 AXA Rosenberg Japan Equity Alpha
4000 Pioneer US Mid Cap Value EUR
4000 American Express Epic Global High Yield Euro
