The first half of 2018 was a difficult period for the international equity markets. Volatility rose sharply at the start of February, and despite subsiding in March has remained at a considerably higher (but more normal) level than in 2016-2017. Continue
Review and outlook
Investment Management Update – April 2018
This year started promisingly, but the optimistic mood soon faded. At the beginning of February, volatility spiked sharply and the daily fluctuation range increased significantly. Continue
Investment Management Update – October 2017
The international equity markets continued their excellent performance into the third quarter of 2017, once again proving to be an attractive option for investors. Continue
Investment Management Update – July 2017
Since the beginning of the year, the risk conditions in the international equity markets have been very good. As a result, the markets are calm with an excellent risk-return ratio. Continue
Investment Management Update – April 2017
Risk conditions in the international stock markets improved markedly during the first three months of the year. Despite the ongoing political risks and the related uncertainty, stock markets are robust and in good shape. Continue
Investment Management Update (QSS) – January 2017
Last year, the revival of global economic growth led to massive rotation in the financial markets. After years of weak economic growth, key leading indicators were suggesting mid-year that the global economy had bottomed out – and growth would pick up again. Continue
Investment Management Update (RRI) – January 2017
One thing is for certain: 2016 was a year of uncertainty. The Research Institute for the Public Sphere and Society (fög) at the University of Zurich has drawn up a list of dominant media topics for 2016, and topping it are the US presidential elections and its main protagonist Donald Trump. Continue
Investment Management Update (QSS) – October 2016
Quantitative Stock Selection – rule-based stock selection in inefficient markets.
Globally oriented cyclical equities made an impressive comeback in July. This was due to the slightly improved global economic outlook, a trend that also confirms Merrill Lynch’s global economic cycle model. Continue
Investment Management Update (RRI) – October 2016
Risk Regime Investing – rule-based management of the tactical asset allocation.
Do you know Tina? No, she’s not the next US President or the main character in the latest docu-soap. Tina is, in fact, an acronym for “There is No Alternative”. Although the term was coined by the English philosopher Herbert Spencer, it was made famous by UK prime minister Margaret Thatcher, who believed that there was no alternative to the market economy. Continue
Investment Management Update (RRI) – July 2016
Risk Regime Investing – rule-based management of the tactical asset allocation.
The world seems to be coming apart at the seams. Refugees are being forced to leave their homes in droves. American presidential candidates are straying from the path of reason, while central banks are leaving the world of positive interest rates behind. Continue
