Julien Moutier
“Following the recent global equity rally, we implement a cautious stance in the portfolio by reducing the equity portion and introducing a flexible allocation fund. We still favour a growth equity style, which appears attractive today if compared with the overbought value theme. Our optimistic view on cyclical sectors and the South Korean economic growth led us to implement a strategic bet on Asia through equities and convertibles.”
Amount (E) Fund
15,000 CAAM Dynarbitrage Var 20 (Total Return)
15,000 Mellon Global Bonds (Global Bond)
12,000 Phenix Alternative Holdings (Multistrategy)
10,000 Alternatime 300 (Total Return)
10,000 PAM Bonds Higher Yield (Emerging and High Yield Bonds)
7000 Convertible Fund – Convertible International (Convertible Bond)
6000 Mainfirst Avantgarde Stock (European Growth Equity)
5000 Axa Or et Matières Premières (Commodities Equity)
5000 Carmignac Investissement (Flexible Global Equity)
5000 Fidelity South East Asia (Asian Growth Equity)
4000 Parvest World Technology (Global Tech Equity)
3000 Westam European Convergence Fund (European Convergence Equity)
3000 Legg Mason Japan Equity Fund (Japanese Growth Equity)
