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INVESTMENT STRATEGIES

Investment Strategy Update

Investment Update: Sustainable Equity Tech Disruptors

8th April 2020   Tomasz Godziek, Portfolio Manager provides an update of the Sustainable Equity Tech Disruptor strategy. To learn more, listen to the audio recording below.
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1. While the technology sector has shown resilience during this time of uncertainty, the Fund significantly outperformed the majority of peer funds and market indices
2. Stay-at-home policy is accelerating shifts in behavior and these will have long-lasting implications on both consumers and corporates
3. The demand for faster internet, cybersecurity solutions, decentralized computing, and more localized supply chains are set to increase rapidly
4. We are confident that our innovative investment approach focused on companies characterized by unique technologies and high barriers to entry will continue to deliver strong performance

Investment Update: Sustaina

ble Bond Global High Yield

2nd April 2020   Roland Müller, Senior Portfolio Manager provides an update of the Sustainable Bond Global High Yield strategy. To learn more, listen to the audio recording below.
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1. The coronavirus crisis and the oil price war triggered unprecedented market volatility and a severe sell-off
2. Market credit spreads are pricing in a very extreme scenario in terms of defaults
3. We are more optimistic than the market, and we believe High Yield bonds offer a great opportunity
4. Our Sustainability Investing approach acts as a risk mitigation tool

Investment Update: Multi Asset Institutional (French)

31st March 2020   Serge Alarcon, Head of Multi Asset Institutional, gave an update on the strategy in French. To learn more, listen to the audio recording below.
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Investment Update: Emerging Markets Bonds

31st March 2020   Gabriel Cedismondi. the lead portfolio manager of the Emerging Markets Bonds Strategy gave an update of the markets. To learn more, listen to the audio recording below.

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1. The Coronavirus crisis is impacting emerging economies and most likely a downturn is inevitable
2.  These economies entered the crisis with strong fundamentals in terms of growth and current accounts
3. Valuations are attractive, especially when considering the massive stimulus packages globally
4. Investors should consider entering the market selectively and cautiously in order to capture the opportunity
5. We have a selection of strategies, yet our Short-term Opportunistic allows investors to enter EM conservatively

Investment Update: Sarasin-Fairinvest (in German)

Investment Update: Senior Loan Fund

27th March 2020   
CIFC, the manager of our Senior Loan Strategy, gave an update.  To learn more, listen to the audio recording below.

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1. Uncertainty remains, however the risk reward profile at current price levels is appealing
2. Recent price declines were primarily liquidity and technically driven in the view of the PM
3. Historically, investors always made positive returns in the subsequent period if spreads exceeded 900bps as they do now.
Presentation download upon request

Investment Update: Multi Asset Institutional

26th March 2020   

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Investment Update: Sustainable Equity - Global Thematic

30th March 2020   In light of recent developments in the market, Giles Money, the portfolio manager for JSS Sustainable Equity - Global Thematic fund, has provided an update:

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1. Year-to-date (25.3.) the fund participated in the drawdown and returned -20.3% (P EUR share class). However, on a relative basis the fund outperformed the MSCI World NR index by +1.1% due to its strong quality bias.
2. The market was experiencing very random movements still two weeks ago, in the last 5 days there has been much more understandable behavior. That being said, the fund is well positioned as its companies have little balance sheet risks.
3. We have trimmed down China exposure in Jan/Feb by reducing our positions in Kering and ServiceNow. We are very positive on e-commerce and digitalisation as themes. We recently added Keyence to the portfolio (market leader in industrial automation) and Walt Disney which was offering an attractive entry point.

Investment Update:All China Equities

25th March 2020   Richard Pan, portfolio manager of the JSS Equity – All China, has given an update on the Chinese equity market and our fund.
To learn more, listen to the audio recording below.

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1. Chinese production has already resumed to c. 80% and the Chinese government will try to counteract the impact of the global slowdown
2. In the short term, the portfolio manager is adding to domestic demand and infrastructure companies that will benefit from stimulus‎ measures
3. Chinese equity valuations are attractive signaling a buying opportunity in the mid-term

Investment Update:SaraSelect (For Switzerland Clients Only)

24th March 2020   Marc Possa, portfolio manager of SaraSelect fund, has given an investment update on the current situation of the portfolio.
To learn more, listen to the audio recording below.
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1. Year-to-date (20.3.) the Fund has relatively outperformed ca. 1.9% due to its focus on high quality companies with more robust balance sheets that the market average.
2. Preference for B2B business models which are more stable in the crisis than B2C business models has helped.
3. Structural trends will re-emerge as soon as the „dust settles“ (structural growth outweighs cyclical growth).

Investment Update:Sustainable Bonds EUR

23rd March 2020   Portfolio manager Florian Weber gave an update on the Sustainable Bonds EUR strategy. To learn more, listen to the audio recording below.

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1. The strategy brings stability to investment portfolios
2. Objective is to deliver attractive risk-adjusted returns through the cycle
3. Dynamic allocation to Sovereign and Corporate bonds, depending on market sentiment

Investment Update:Senior Loans Europe

10th March 2020   In light of recent developments in the market, Dan Robinson, the Portfolio Manager of our European Senior Loan Strategy, gave an update on the European loan market.  To learn more, listen to the audio recording below.

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1. The European loan market has been relatively resilient in the face of the double shock of Covid-19 and the oil price drop
2. Dan Robinson sees opportunities in the current market and is selectively buying non-cyclical names