We are currently preparing to incorporate our tactical investment positioning into the relevant product solutions. These new investment solutions will be launched on the Swiss market during the course of 2020. We are implementing our house view in model portfolios, as shown below. Until the official launch of these new investment solutions, PostFinance is not providing any investment advice based on this tactical investment positioning and is not accepting any asset management mandates either.
Model portfolios – Swiss focus: we are maintaining our defensive positioning
The stock markets have once again recovered from the latest downturn, for the umpteenth time since early 2018. The major equity indexes in Switzerland, the USA and also in Europe again stood at close to their all-time highs. The global economic situation has not improved, however. Optimism amongst companies and consumers continues to fall, even though there are no indications of a recession. The situation regarding political tensions has taken a turn for the better. We still recommend maintaining a slight underweight position in equities. This takes account of the economic and political uncertainty and greater fluctuations on the stock markets.