This week we have seen the CC Euro Equity Fund exceed 103 points. From my point of view performance to date has been exceptional. (Please keep in mind that I am managing this fund with my friend Kristian, so I am practically congratulating myself). The fund was launched in November and since then we have experienced 2 equity market corrections. We were also heavily weighted towards cash during this set-up period. As of this morning my initial readings show a price of 103.40, or 3.4% since the 1st of November 2013, the market index during the same period increased by 2.88%.

We continue to expect this year to be positive for European equities as the economic recovery in Europe takes hold. Equities will also probably get a helping hand from the ECB in the form of Quantitive Easing.

Tomorrow we expect Allianz SE to report FY 2013 earnings per share of €13.04. Allianz SE remains one of our top picks, having one of the best management teams in the industry and demonstrating resilience to economic downturns; basically our kind of stock. However, tomorrow we expect subdued results due to the bad year experienced by PIMCO, their asset management subsidiary. Our price target is currently €131.28 and my personal recommendation is to keep Allianz as a core investment. Allianz gives a regular annual dividend of circa 4% of investment, coupled with the potential of capital appreciation. Over a 3 year period, which would be my investment horizon, Allianz has increased by 25% in price.

On Friday we expect Bayer to report earnings per share of €3.72. We have a price target on Bayer of €100.2. Upside is limited in the short-term due to currency movements. We expect to upgrade Bayer going forward.

We are currently finalizing a report on Volkswagen. The report will be uploaded later today on Webtrader. Our 1yr price target is €203.

Remember, that a marathon can only be finished step by step.