Julien Moutier
“Over the past month, our balanced portfolio benefited from its credit and equity exposure. Corporate and emerging spreads recovered strongly over the past few weeks, in an environment of decreasing risk aversion. Our investment in South East Asia, via Fidelity, contributed to performance. We took profits after strong growth in our gold and commodities positions, selling the AXA Or et Matières Premières Fund, which represented 6 per cent of the portfolio.”
Amount (E) Fund
16,000 FundQuest Bond Opportunities (bond total return)
13,000 Alternatime 300 (total return)
12,000 BNP Paribas Convertible Europe
12,000 PAM Bonds Higher Yield (Emerging and High Yield Bonds)
10,000 PAM Bonds Euro (euro bond)
9,000 State Street Actions Euroland
7,000 CAAM Dynarbitrage Var 20 (total return)
7,000 Carnegie Fund European Equity
6,000 ADI Crédit Arb Absolu
5,000 Fidelity South East Asia (Asian growth equity)
3,000 Centrale Long Vol
