When something new emerges
People seek progress. Investors can benefit from this – in the long term, at least.
Investment compass – April 2022
The monthly newsletter includes a topical editorial, our positioning including the conclusions from the analyses, a market overview of the most important asset classes, an assessment of the current economic situation in various regions, and our current model portfolios.
Positioning
Calm before the storm?
The sharp rise in interest rates caused small tremors on the bond market. The stock markets, meanwhile, still showed their robust side for the time being. As long as the central banks appear credible in fighting inflation, the markets should stay calm. However, defensive positioning remains advisable.
We are now managing 1 billion Swiss francs in assets for our customers.
Market overview
Sharpest interest rate rise in decades
Bond prices have fallen dramatically due to the sharp interest rate hike last month. Equities, meanwhile, have recovered from the price slump at the beginning of the war.
Economy
Central banks lose control of inflation
The central banks have ignored the high inflation for too long. They now need to introduce even tougher measures to bring inflation back under control.
Model portfolios
Defensive and diversified
Even after the recent rise in interest rates, an underweight in global bonds remains appropriate.
The newsletter is aimed at customers domiciled in Switzerland. The legal information and information on the protection of personal privacy apply.