Investment news

  • Chart of the Month – The rise of passives by Caron Bastianpillai, Sep 4 2017

    The rise of passives How the role of ETFs has evolved in an increasingly efficient market Not a month goes by without an article in the press criticizing the high fee structures of both hedge funds and traditional long only funds and their underperformance in comparison to their benchmark indices.  It comes as no surprise […] read more

  • Topix performance
    Chart of the Month – Japanese Yen: to hedge or not to hedge? by Pierre Mouton, Aug 2 2017

    Heart shaped hedges, Japanese gardens (« Johnson’s aeroplane” – INXS, 1984) When it comes to buying Japanese equities for a non-Japanese investor, this emotional question always resurfaces: how do I manage the currency risk for the seeds I sowed in the Japanese garden, i.e. do I hedge the JPY currency risk on my equities or […] read more

  • Chart of the Month – Low volatility does not mean low risk! by Cedric Dingens, Jul 7 2017

    Low volatility does not mean low risk! In an environment characterized but high political and policy risk, low levels of market volatility seem paradoxical. Volatility expectations for stocks and bonds have sunk to levels not seen since 1990. The VIX Index, which reflects a market estimate of future equity volatility, traded below the psychological level […] read more

  • Investment Outlook Q3 2017 by James Macpherson, Jul 6 2017

    Notz Stucki has just released its investment outlook for the third quarter of 2017. “The reduction of interest rates below their natural levels has poisoned the river at its source, and nobody knows whether the water is fit to drink.” Jonathan Ruffer   The markets performed well in the second quarter propelled by the reassuring election […] read more

  • Notz Stucki Investment Conference – Notes 27 06 2017 by James Macpherson, Jun 29 2017

    So far this year the optimists have been proven right, as stock markets have advanced steadily. This is supported by evidence that the world economy is in better shape, and is in a more predictable and sustainable condition than it has been for ten years. While this has been increasingly evident in economic statistics over […] read more

  • Swimming against the tide: picking an out-of-favour manager by Angel Sanz, Jun 13 2017

    Angel Sanz is answering City Wire‘s question about funds’s selection: “Picking an out-of-favour manager may prompt investors to question your selection methods but which funds have you stood by and benefited from despite all signs telling you to sell out? Who repaid your faith in their potential and became a top contrarian call?” Picking-up a […] read more

  • Chart of the Month – Swiss Made by Marie-Caroline Fonta and Pierre Mouton, Jun 1 2017

    Swiss Made The Swiss equity market is a strange animal which exhibits pretty unique characteristics: in a small country in terms of size and population, no less than 4 mega multinationals are listed on the stock market, and completely distort the average metrics traditionally used to assess the attractiveness of an index. The famous 4 […] read more

  • Zoom sur notre vision du luxe by Notz Stucki, May 2 2017

    Chantal de Senger, journaliste du magazine Bilan, présente notre vision du luxe et introduit le fonds DGC Franck Muller Luxury Fund lancé il y a bientôt 3 ans. “C’était une première en Suisse: fin 2014, le groupe Franck Muller et le gérant indépendant Notz Stucki, dont la masse sous gestion se monte à 8 milliards de francs, s’associaient […] read more

  • Chart of the Month – In Re-Search of Alpha by Caron Bastianpillai, May 1 2017

    In Re-Search of Alpha   Alexander Ineichen of UBS Warburg was well known in the hedge fund world for his first publication in 2000 of a series of four to follow titled “In Search of Alpha – Investing in Hedge Funds”. This was a guide written to de-mystify hedge fund investing following the hedge fund […] read more

  • Notz Stucki Investment Meeting – Notes 11 04 2017 by James Macpherson, Apr 12 2017

    Over the past year world economic growth has been stronger than expected, for several reasons. First China’s growth has been solid. Instead of imploding the industrial side of the economy bounced back in 2016 in response to the policy measures of a year ago. Growth in China may fade a bit this year as the […] read more