Model portfolios – Swiss focus: Neutral tactical alignment of our portfolios
Market nervousness has been reduced due to decreasing risks related to the US elections and breakthroughs in the search for a corona vaccine. We also expect that the economic difficulties of the second wave of corona will lead to a continued very expansionary economic policy. Accordingly, after a prolonged period of more defensive positioning, we are bringing the equity component of our portfolios back to a neutral tactical positioning and are placing an emphasis on China. We are taking the gains from the gold position we have held since the beginning of the year, and are increasing our equity position again, continuing our shift in weighting towards East Asian equities.