Pierre Bonart
“For 2007, our main scenario is based on a global expansion with only a modest slowdown in a context of low inflation. Asset prices should continue to be supported by the favourable liquidity environment. Equity valuations are reasonable in most markets. We believe equities should be the main beneficiary with most other asset classes offering less potential for capital gains. We have increased our exposure to US equities and continue to favour a balanced style mix. We remain rather on the fixed income side, since we believe the expected returns are not as appealing given the perceived risk.”
Amount (E) Fund
22,500 L Multi Hedge
15,000 Louvre Multi Select Global Bond Fund
7,500 Europe Value
7,500 Legg Mason America Value
7,500 WP Select Growth (US Conservative Growth)
5,000 AXA World Talents
5,000 Comgest Asia
5,000 Henderson Horizon Japan
5,000 L Convertibles
5,000 Louvre Multi Select Emerging Markets Equity Fund
5,000 OPA Monde
5,000 Renaissance Europe
2,500 MLIIF World Energy Fund
2,500 MLIIF World Mining Fund
