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Equity - Global & Regional Funds > Willerequity Trade Winds p
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Latest NAV (17/05/13) : EUR 13.98 Subscription
Chart - Outlook - Performance - Allocation
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Outlook
Fund Manager's Comment

Geneva, 06/05/2013 – The unprecedented stimulus announcements in Europe (ECB’s OMT) and the US (Fed’s QE3) have reduced the perceptions of systemic risk in the global economy, particularly in Europe. The tailwind provided by accommodative monetary policies comforts our positive view on industries that represent pockets of strength in a slow growth world. Among the investment themes we continue to like: global consumer stocks, US shale oil & gas plays, cloud computing, 3D printing, dividend aristocrats, US homebuilders, legacy technology stocks that have undergone a 10-year P/E contraction (from 2000 to 2010) and are now resuming their uptrend. We also monitor very closely out of favor investments themes (for instance, some selected European financial stocks) that might continue to see their ratings improve following the measures recently announced by the central banks.

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Performance
Cumulative
1 month 1 year 3 years 5 years since launch
W-Trade Winds 7.3% 21.1% 13.1% 5.0% 39.8%
MSCI World Euro 8.1% 27.9% 31.0% 17.3% 12.7%

Calendar year
Ytd 2013 2012 2011 2010 2009
W-Trade Winds 16.8% 6.0% -13.9% 16.7% 25.6%
MSCI World Euro 16.3% 11.2% -4.7% 17.5% 23.6%

Over 36 months
Volatility Annualized Return Sharpe Ratio
W-Trade Winds 3.65 % 4.19 % -0.03
MSCI World Euro 2.84 % 9.42 % 0.51

The fund performance data does not take into account any commission or costs incurred upon issue or redemption of units.

Allocation
10 largest holdings
SAMSUNG ELE 3.3%
STRATASYS LTD 2.8%
HOOSIERS HLD 2.6%
SAWAI PHARMA 2.5%
FAST RETAIL 2.4%
VISA INC 2.0%
EISAI 2.0%
PROTO LABS INC 2.0%
HARLEY DAVI 1.9%
AMERICAN EL 1.9%
Sector Allocation
Cons. staples 17.3%
Financials 16.8%
Industrials, trading 14.1%
Cons. discretionary 11.9%
Health care 11.9%
Cash 4.6%
Country Allocation
U.S.A 46.6%
Japan 11.6%
United Kingdom 5.7%
France 5.5%
Norfolk Island 3.4%
Cash 4.6%