Equity

Passive and active investments should be used in the same strategy.

Don’t forget equities are a real asset class, and ultimately they are likely to benefit from a reflation regime

Since 1987, the high yield sector has generally produced healthy risk-adjusted returns, striking a good balance between return and risk. With almost 30 years of proof of concept, the US high yield sector (as represented by the BofA Merrill Lynch US High Yield Constrained Index) has provided over 80% of the upside and less than 60% of the downside when compared to equities (as represented by the S&P 500 Index).B As such, high yield remains a strong diversifier within an investor’s portfolio for those who can tolerate the risk. When we consider the expanded opportunity set in the global high-yield market, we think an investor can gain considerable advantages.

The media has credited Trump for the rally in yields and the recent swoon in the equity market. The argument goes that Trump’s policies notably with higher spending, lower taxes and less regulation will be positive for growth and inflation.

Allianz Global Investors has brought a volatility-focused absolute return fund to the Swiss market.

According to the FED, the recovery after the crisis of 2008 is coming along nicely although it is a bit slower in Europe. The FOMC is still debating whether a rise in interest rates is indicated, and December seems to be the right month for another rise of 25 basis points.

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.

Theresa May outlined a vision for Britain after Brexit in the speech to Tory conference during its annual convention yesterday. British Prime Minister said the vote for Brexit was a rejection, not just of the European Union, but of an entire social and economic order. “It was about a sense – deep, profound and let’s face it often justified – that many people have today that the world works well for a privileged few, but not for them.