Model portfolios – Swiss focus

valid from 15.07.2025

US dollar on a weak course

The financial markets are proving remarkably robust despite the economic uncertainties. So far, only the US dollar has had a noticeable impact. Since the beginning of the year, the currency has lost around 10 percent on a trade-weighted basis. The previously pronounced overvaluation relative to purchasing power parity has thus been significantly reduced. However, the dollar remains overvalued and has further downside potential. Historically, emerging market equities in particular have benefited from a weak US dollar. Against this backdrop, we are increasing their weighting in the portfolio. At the same time, we are strengthening the gold position, which typically also benefits from a weak US dollar, and hedging it against further dollar depreciation.

Interest income

Liquidity 1%, income 71,5%, equities 14%, alternative investments 13,5%
Source: PostFinance

Income

Liquidity 1%, income 56%, equities 30%, alternative investments 13%
Source: PostFinance

Balanced

Liquidity 1%, income 35%, equities 50%, alternative investments 14%
Source: PostFinance

Growth

Liquidity 1,5%, income 14,5%, equities 70%, alternative investments 14%
Source: PostFinance

Capital gains

Liquidity 3,5%, income 0%, equities 88%, alternative investments 8,5%
Source: PostFinance
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