To date there has been scarcely any data on asset management in Switzerland. In particular, there has been no information available on the managed volumes of discretionary asset management mandates from the perspective of Switzerland as a production location.
With an increase of more than 25% since the beginning of the year, gold has continued to climb and will probably not stop there.
Sky high valuations are abundant in equity markets however they are getting far less attention than during previous bubbles. Specifically, investors talk of potential cures brought about by startup biotech companies which is reminiscent to counting eyeballs during the internet bubble.
The investors race to be considered safe havens in times of uncertainty has increased the amount of sovereign bonds in circulation worldwide at negative yields. According to Fitch Ratings, until last Monday the total stood at 11.7 trillion dollars, an increase of 12.5% compared to the end of May. According to the rating agency, the thing to note is that investors are willing to hold them in the portfolio for a longer period.
There are at least two possible approaches to the portfolio selection process that are philosophical opposites but sometimes can complement each other.
Precious metals are again attracting a lot of attention with Gold and Silver futures long positioning reaching the highest level since 2013 according to CFTC data. Long-term investors are also starting to jump in, on fear of missing out according to UBS research. China started a yuan-denominated gold fix to compete with London Bullion fixing, yet the impact gold price remains to be evaluated.
The concerns dominating investor attention to start the year – especially about monetary policy, China, and global growth more broadly – have not dissipated, but investors seem to be coming to terms with them, and valuations now account for that uncertainty.
In recent months, many politicians and policymakers have grown more aggressively vocal in their call to break up large and systemically important U.S. banks as a further measure toward preventing […]
