Discretionary mandates

In addition to our PARSUMO funds, we also manage your assets at your bank in the form of mandates. We apply the same investment approaches to our mandates as we do to our funds.

Mandates managed according to the Risk Regime Investing (RRI) approach

We do not manage our RRI mandates in line with a predefined asset allocation structure, as this rudimentary definition often leads to an accumulation of unwanted and unfavorable risks in a risk-management-driven approach. We take the risk level of the agreed benchmark and determine a risk band that we use to actively manage the mandate. This process ensures that the risk requirement is always met and the portfolio is structured in line with the prevailing risk conditions.

Investment solution	PARtact	PARvola	PARcore	PARworld
Who defines the strategy?	PARSUMO	Client	Client	PARSUMO
Asset classes	mixed	mixed	mixed	Equities World
Risk budget	variable	client specific	Conservative Conservative + Moderate Moderate + Aggressive	variable
Equity range	10% - 75%	individual	narrow range according to chosen profile	30% - 100%
Implementation	ETFs & index funds - long only & no leverage

Mandates managed according to the Quantitative Stock Selection (QSS) approach

Our QSS equity mandates are offered for inefficient markets. In a global portfolio, we reflect efficient markets with cost-effective passive instruments (ETFs). These are selected through a structured and independently audited process according to various criteria, such as total cost, tradability and size.

Investment solution	PARswiss All Cap Equities	PARswiss Small & Mid Cap Equities	PAReurope Equities	PARglobal Equities	PARglobal High Dividend Equities	PARemerging Markets Equities
Benchmark	Swiss Performance Index	SPI EXTRA	MSCI Europe Index	MSCI World Index	MSCI World High Dividend Yield Index	MSCI Emerging Markets Index
QSS share	100%	100%	100%	approx. 25%	approx. 40%	100%
ETF share				approx. 75%	approx. 60%