House view

PostFinance is all about investment expertise. We have successfully been providing tailored investment solutions that suit personal asset growth building plans for 20 years now. In order to track economic growth trends on the financial market and within the global economy itself, and to ensure we make the right decisions for our investors based on this information, we have formed an investment committee. The investment committee meets once a month to decide what the “PostFinance house view” is. The results of this house view determine our positioning.

Investment compass – october 2019

The Swiss franc is not the only safe haven

In times of greater uncertainty, it is worth increasing the share of ‘safe havens’ in the portfolio. The Japanese yen and gold have displayed this quality over recent months.

Positioning

Hopes and fears on the stock markets

Another significant decline in the leading indicators for the US economy sent shock waves through the stock markets. Political developments give hope for once. The situation at the start of the final quarter of the year remains challenging for investors. Defensive positioning is still advised.

Safe havens improve the stability of the portfolio during periods of greater uncertainty.

Market overview

Equity investors unsettled by fears of recession

Concerns over the strength of the US economy hit equity markets hard. However, the gloom raises hopes that the Federal Reserve will cut key rates which should give the markets a boost. Such hopes are justified.

Economy

Poorer economic outlook

In the USA in particular, the growth outlook has further deteriorated. Low growth rates are anticipated. The outlook for Switzerland is also subdued. By contrast, the latest data from China points to a slight recovery.

Model portfolios

Risks mean a cautious approach is advisable

The gloomy sentiment in the US industrial sector has sent shock waves through the equity markets. In light of the faltering economy, we are maintaining a defensive position.