The results of the Model Portfolios for the second quarter, 2005 (3 October 2005)
By Geir Linlkken, Head of Research

Investtech's Model Portfolios rose in the third quarter with, on average, 0.6 percentage points in relation to the reference index. In particular, the portfolios in USA and UK showed excellent results, with excess returns of respectively 9.1 and 8.9 percentage points.

Stockholm +12.7% -8.6% -2.3% +1.8%
Helsinki +6.2% +7.1% -4.5% +8.8%
Amsterdam +2.0% +3.6% +2.1% +7.7%
Copenhagen +11.3% +7.4%-10.6% +8.1%
Oslo +3.2% +9.8% +6.5% +19.5%
London +7.0% -4.6% +8.9% +11.3%
Frankfurt/CDAX +7.5% -6.0% -4.6% -3.1%
Nasdaq +15.2% +9.0% +9.1% +33.3%
Average +8.1% +2.2% +0.6% +10.9%
*Excess returns for the portfolio in this quarter, before commission, in relation to the reference index. These are calculated as percentage point excess returns so far this year, minus excess returns for the previous period.

The results so far this year have been good, with returns averaging 10.9 percentage points better than the reference index. For the duration of this period, emphasis has been placed on the shares in the portfolio reflecting the markets composition, and the risks for the portfolio being of the same degree as those for the market. Having taken this into account, the results are considered to be very good.

The strategy use previously is still considered to be good.

  • Stock picking, however, try not to deviate too far from the index, especially when the index is negative or neutral.
  • Buy stocks in increasing trends for medium-long/long term, or at a confirmed break in a formation, or break through resistance.
  • Use caution when buying at support within falling markets. Sell at resistance within falling markets. Use caution when selling at resistance within rising markets. Buy at support within rising markets.
  • Let the profits run, but cut losses quickly.


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