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Vivendi boss Jean-Bernard Levy had made the deal a top priority to increase the company's cash flows and raise its exposure to both telecoms and its home market in France.
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His fund has raised its exposure to these countries to about 50 percent, from 40 percent in the last few years.
Despite insistence from HP Chief Executive Carleton Fiorina Carleton Fiorina that the deal is about much more than PCs, analysts agree the merger raises its exposure to the flattening, thin-margin market.
In another trend-bucking move, Credit Suisse has raised its suggested exposure to bonds denominated in now-mighty sterling eightfold.
After a decade of sluggish performance that made it difficult to achieve the fund's target investment returns, the state hopes that raising its private equity exposure will help it to meet those goals.
As a result, the firm has raised its recommended equity exposure sharply.
The markets also saw its exposure to Greece and raised its borrowing costs accordingly.
"This market is muddling through but doing remarkably well," says Stack, who's now 50% allocated into equities, but plans to raise his exposure soon to 65%.
This result raises concerns regarding its exposure to exhibition lighting.
His assessment that colleges and firms are perpetuating a degradation of the value of professional experience for college students is admirable in its effort to raise exposure for this important issue.
But despite those caveats, he does see a compelling case for investors with at least a five-year time horizon to raise their exposure to European equities.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com