Christian Jost - Professional Wealth Management

01 June, 2008

“International equity markets have shown light signs of recovery during the month of April 2008. Investors around the world turned their focus yet again to the United States, where the FED cut the key interest rate by 0.25 percentage points. The rate cut is in line with a series of cuts amounting to 3.25 per cent to date since September 2007 in response to the subprime crisis. We reacted to this market environment by building a European real estate position in the equity part of the portfolio, which performed better than global equities on a year-to-date basis.”

AMOUNT (E) FUND

10,000 Julius Baer Absolute Return Bond Fund (total return global fixed income)

10,000 Ringturm Euro Bond

10,000 Springer European Plus

10,000 Threadneedle American Crescendo Fund Ltd

10,000 Vitruvius Japanese Equity (JPY)

7,500 Capital Invest Trend Bond

7,500 Threadneedle Asia Fund

6,000 AMEX WF Local Currency Emerging Market Income

5,000 AXA World Funds Aedificandi

5,000 C-QUADRAT ARTS Best Momentum

5,000 Credit Suisse Bond Fund (Lux) Inflation Linked (Euro)