Thierry Callault
“It is quite impossible to evaluate the ‘shock and awe’ consequences of war in Iraq on the world economy. The latest economic data from the US suggests that recession is not far off. Europe is in the same situation, the SARS disease in Asia will not help and the future for oil prices could remain uncertain. This is why we won't be changing the defensive stance of our asset allocation this month.”
Amount (E) - Fund 20,000 - Louvre Multi Select LMS Global Bond Fund (multi-manager) 20,000 - Legg Mason America Value (US large cap value) 10,000 - Western Asset Global Yield Europe (US and European high yield) 7500 - ADI Convex Valor (convertible bond arbitrage) 7500 - La Financiére de l'Échiquier (small cap value) 7500 - Comgest Asia (Asian equities) 7500 - CSAM Convertible Bond Europe 5000 - Go Fx Euro Govies (European government bonds) 5000 - Pimco Total Return (US bonds) 5000 - Wanger AM New America Small Caps 2500 - Capital International Multisector Europe (large cap blend) 2500 - Comgest Renaissance Europe (large-cap growth)