Robert Burdett

“Over the past month, our equity overweight has produced positive returns, but the bond funds did better still. We are tempted to reallocate a little towards bonds in anticipation of further global rate cuts on, or before, bullets flying in Iraq. So we move equities down to 53 per cent and bonds up to 47 per cent. Our only fund change is to take advantage of a new version of the Schroder fund – Schroder ISF European Alpha.” Amount (E) - Fund 13,000 - Investec Select Global Bond 12,000 - CS Bond Euro 12,000 - Mellon UG Global Bond (global macro bonds) 10,000 - Baring High Yield Bond 10,000 - Merrill Lynch EuroMarkets (Fundamental quality Pan-European Equities) 10,000 - Schroder ISF European (ex-UK) 7000 - Lazard UK Equity (UK core active) 6000 - Legg Mason Strategic Value (US Large Cap Value) 5000 - BDT Invest Asia (Asia equity absolute style) 4000 - Gartmore CSF Emerging Markets (Growth emerging equities) 4000 - GAM Star America Focus (large cap) 4000 - Polar Capital Japan (Japanese Garp equity) 3000 - Nordea American Value (US mid and small cap)