Model portfolios – Swiss focus

valid from 16.12.2025

Christmas rally with setbacks

Market sentiment improved somewhat again last month. The technology sector was able to recoup a large part of the losses it had suffered at the beginning of November. Nevertheless, this month has shown once again that the high expectations placed on the technology sector are difficult to meet. In recent weeks, this has led to increased price setbacks. Global value stocks continue to pay off in comparison.

We still see potential in emerging markets. The US dollar remains overvalued on a trade-weighted basis and should therefore support both equities and bonds in emerging markets. In addition, despite the increasingly difficult economic situation in Switzerland, we are maintaining our overweight position in Swiss real estate. Swiss real estate continues to offer attractive distribution yields, especially in comparison to money market investments.

Interest income

Liquidity 2,5%, income 96%, equities 14,5%, alternative investments 14%
Source: PostFinance

Income

Liquidity 2,25%, income 54,5%, equities 29,25%, alternative investments 14%
Source: PostFinance

Balanced

Liquidity 2%, income 35%, equities 49%, alternative investments 14%
Source: PostFinance

Growth

Liquidity 1,5%, income 16%, equities 68,5%, alternative investments 14%
Source: PostFinance

Capital gains

Liquidity 5,5%, income 0%, equities 86%, alternative investments 8,5%
Source: PostFinance
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