Stoddart's ETF model portfolio 1st November 2012

Good morning,

Fund inception: 2nd July 2012
Return: 6.7%

The funds performance over the last 2 months, has been greatly supported by the rebound in European equities. This has offset the recent profit-taking seen in the US equity market, where I have 10% exposure. The revenue weighted fund (RWL US), has outperformed the bench mark S&P index, thanks to its more defensive stance in times of negatvity.
In the fixed income market, demand for higher yielding assets, has supported my US listed high yield products, whilst the US$ weakness has supported my long gold junior miners(GDXJ US).

I will look at rebalancing to a more aggressive growth portfolio over the next fortnight, due partly to the headlines from Europe about having a Banking Union created, I am slightly more optimistic on Europe and its impact on global GDP.

ASSET CLASS	TICKER	WEIGHTING	PERFORMANCE %
EQUITY	RWL US	0.05	4.95
	SPY US	0.05	3.55
	FXI US	0.02	9.33
	EWY US	0.02	6.16
	EEM US	0.07	5.18
	BRIC LN	0.03	0.83
	VGK US	0.07	6.79
	SX7EEX GY	0.03	16.55
	EWP US	0.01	12.76
	EWI US	0.01	9.29
	EWG US	0.01	9.55
	EWQ US	0.01	5.99
	GDXJ US	0.02	26.18
DEBT	EBMMEX GY	0.05	2.15
	IBGS LN	0.05	4.24
	IBGX LN	0.15	4.36
	EMB US	0.15	5.77
	HYG US	0.15	1.90
	LQD US	0.05	4.41
		PERCENT	6.6747
		MSCI WORLD	4.9613
		PERFORMANCE	1.7134