Michael Richter

“The portfolio is nearly unchanged. At this time we see no reasons to change our market opinion or the products in which we are invested.” Amount (E) - Fund 75,000 - Alliance Capital Management Global Growth Trends (global equity) 65,000 - Deutsche Investment Trust Europazins (European bonds) 60,000 - ABN Amro Europe Bond (European bonds) 50,000 - JPMorgan Fleming Global Fixed Income (global bonds) 50,000 - ABN Amro Global Emerging Markets Bond (emerging market bonds) 50,000 - ABN Amro Global Emerging Markets Equity (emerging market equity) 40,000 - Threadneedle Euro Select Growth (European select growth equity) 35,000 - Alliance Capital Management American Growth (American growth equity) 30,000 - Fidelity International (international equity) 25,000 - DWS Euro-Corporate High Yield (European corporate high yield) 20,000 - Merrill Lynch Global Small Cap (global small-cap equity)