Peter Fitzgerald
“We increased equities to 50 per cent, reduced alternatives to 40 per cent and left fixed income at 10 per cent. We made several manager changes. We sold our position in the JPM Highbridge Statistical Arbitrage Fund. This strategy did not do as well as expected in August and following a recovery, we decided to exit. We sold our position in the Aberdeen Asia Pacific fund and increased our holdings in the First State Asia Leaders fund, which we believe is better positioned to deliver returns. Performance from Aberdeen has disappointed and we believe this to be a combination of portfolio positioning as well as the significant asset growth of the business.”
Amount (E) Fund
10,000 ARS - Directional Managers
10,000 ARS - Market Neutral
10,000 Artemis European Growth
10,000 AXA-Rosenberg US Equity Alpha
10,000 IdB Equity Income
7,500 Advent Global Convertibles Securities Strategy
7,500 IdB Alchemy N.V.
5,000 ABN AMRO Europe Bond
5,000 Pimco Total Return
4,000 Invesco Perpetual High Income
4,000 Henderson Pan European Smaller Companies
4,000 IdB Real Estate Equity
3,000 JPM Emerging Markets Alpha Plus
3,000 Schroder Tokyo
4,000 First State Asia Pacific Leaders
2,000 Cambrian
1,000 Genus 15
