Peter Fitzgerald
“The allocation is now 40 per cent equities, 40 per cent alternative and 15 per cent fixed income. We have allocated five per cent of the portfolio to cash which would normally be in fixed income. However, with cash yields high and increasing, cash is an interesting asset class and offers a substitute for fixed income. On the equity side, we increased allocation to the JPM Emerging Market Alpha Plus Fund which provides exposure to emerging markets, but the manager will use the flexibility of UCITS III to hedge market risk. Last month’s allocation to the IdB Real Estate Equity Fund was timely. The European property market dropped three per cent in April and this fund delivered a positive return of + 1 per cent.”
Amount (E) Fund
10,000 ARS - Market Neutral
10,000 ARS - Directional Managers
9,000 IdB Equity Income
8,000 Artemis European Growth
7,500 ABN AMRO Europe Bond
7,500 Pimco Total Return
7,500 Advent Global Convertibles Securities Strategy
7,500 IdB Alchemy N.V.
5,000 Cash
4,000 IdB Real Estate Equity
4,000 Invesco Perpetual High Income
3,000 AXA-Rosenberg US Equity Alpha
3000 Henderson Pan European Smaller Companies
2,000 Thames River Global Emerging Markets
2,000 Aberdeen Asia Pacific
2,000 Schroder Tokyo
2,000 Polar Capital Japan
2,000 Cambrian
2,000 JPM Emerging Markets Alpha Plus
1,000 First State Asia Pacific Leaders
1,000 Genus 15
