“The portfolio returned 2.5 per cent in April. The best performing fund was Danske Fund Europe, which returned 8 per cent. The worst return was posted by Pictet Asia local Currency Debt., which lost 1.35 per cent in line with fixed income funds in general. To take advantage of this we have added another 5 per cent of the portfolio to this fund. ING Senior Secured Loan seems to have turned the corner after a few difficult months. Senior bank loans now trades at LIBID + approximately 6 per cent. We have also added JPMorgan Global Convertibles (EUR), and Blackrock Absolut Return Strat, a closed end fund of hedge funds traded daily at London Stock Exchange.”
AMOUNT (E) FUND
20,000 ING Senior Secured Loan (short term secured loans hedged to EUR)
10,000 Pictet Asian Local Currency Debt
10,000 JPMorgan, Global Convertibles, EUR
10,000 Evli Ruble Debt (corporate ruble debt)
10,000 Dexion Absolute Limited
10,000 Danske Fund Europe (European equities)
10,000 Blackrock Absolute Return Strat (BARS)
5,000 Robeco Lux-o-rente (European government bonds)
5,000 Fidelity American Growth (US equities)
5,000 Evli Greater Russia
5,000 Credit Agricole ASEAN (Equities ASEAN countries)
