Sparinvest - Fund Updates

16-07-2010

Fund Update Investment Grade Value Bonds Q2 2010

Performance
In the second quarter of 2010, Sparinvest Investment Grade Value Bonds has returned -4,11% whereas the compa-rable return on our benchmark Merrill Lynch Global Broad Market Corporate Index (EUR Hedged) is 2,04%.

Performance
In the second quarter of 2010, Sparinvest Investment Grade Value Bonds has returned -4,11% whereas the compa-rable return on our benchmark Merrill Lynch Global Broad Market Corporate Index (EUR Hedged) is 2,04%.

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16-07-2010

Fund Update High Yield Value Bonds Q2 2010

Performance
Sparinvest High Yield Value Bonds maintains its position amongst the top-performing bond funds in Europe.

Performance
Sparinvest High Yield Value Bonds maintains its position amongst the top-performing bond funds in Europe.

The year-to-date return on our benchmark (EUR Hedged) was 4.87% whereas the fund delivered a return of 8.67%.

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16-07-2010

Letter to Shareholders Value Bonds Q2 2010

Europe on a diet
During the spring, it became increasingly apparent that Greece was unable to handle its maturing wall of debt by itself. A dangerous combination of political reluctance to take the necessary steps and a growing fiscal deficit decreased global confidence in the Greek economy and the country’s ability to handle its debt repayments.

Europe on a diet
During the spring, it became increasingly apparent that Greece was unable to handle its maturing wall of debt by itself. A dangerous combination of political reluctance to take the necessary steps and a growing fiscal deficit decreased global confidence in the Greek economy and the country’s ability to handle its debt repayments.

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16-07-2010

Fund Update Global Small Cap Value Q2 2010

Performance
In the first half of 2010, Sparinvest Global Small Cap Value posted a return of 13.66%, compared with 12.76% for the general small cap equity market, as measured by the MSCI World Small Cap index. During the second quarter, the fund gained 1.50%, while the small cap index dropped by 1.13%.

Performance
In the first half of 2010, Sparinvest Global Small Cap Value posted a return of 13.66%, compared with 12.76% for the general small cap equity market, as measured by the MSCI World Small Cap index. During the second quarter, the fund gained 1.50%, while the small cap index dropped by 1.13%.

Breaking the second quarter down further, value stocks dropped by 4.08%, while growth stocks fell by 2.97%.

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16-07-2010

Fund Update Global Value Q2 2010

Performance
In the first half of 2010, Sparinvest Global Value posted a return of 8.41%, compared with 5.61% for the general equity market, as measured by the MSCI World index. During the second quarter, the fund retreated by 2.26%, while the index dropped by 3.53%.

Performance
In the first half of 2010, Sparinvest Global Value posted a return of 8.41%, compared with 5.61% for the general equity market, as measured by the MSCI World index. During the second quarter, the fund retreated by 2.26%, while the index dropped by 3.53%.

Breaking the second quarter down further, value stocks dropped by 4.08%, while growth stocks fell by 2.97%. The small cap market dropped by 1.13%.

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