Thierry Callault

“Our asset allocation bet on global bonds (up 6.1 per cent) and US large cap value with Bill Miller’s America value (up 10.3 per cent) has done very well year to date. The aggressive rate cut in Europe and signs of weakness in the US economy present mixed signals. So we are sticking with our present asset allocation: 50 per cent equity, 42.5 per cent bonds and 7.5 per cent convertibles. We are particularly happy with our choice of Comgest Asia, which has outperformed its benchmark significantly.” Amount (E) - Fund 25,000 - Louvre Multi Select LMS Global Bond Fund 20,000 - Legg Mason America Value 12,500 - Comgest Asia 7500 - ADI Convex Valor (convertible bond arbitrage) 7500 - Credit Suisse Asset Management Convertible Bond Europe 7500 - La Financiére de l’Echiquier (small cap value) 5000 - Go Fx Euro Govies (government bonds) 5000 - Pimco Total Return (US dollar hedge fund) 5000 - Wanger AM New America Small Caps 2500 - Capital International Multisector Europe (large cap blend) 2500 - Comgest Renaissance Europe (large cap growth)