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Swiss Life presented pleasing 2024 half-year results today. We at Swiss Life Asset Managers contributed to this with a good result. We increased our total return by 15% to GBP 445 million. The segment result amounts to GBP 136 million. This represents a significant increase of 30% compared to the same period in the previous year. The growth of our third-party asset management (TPAM) business made a major contribution to this, with an increase of 73% over the previous year. As at the end of June 2024, third-party assets under management were GBP 103 billion, equivalent to an increase of GBP 4 billion (31 December 2023: CHF 99 billion*).  The successor to Stefan Mächler as Group Chief Investment Officer was also announced today. As of 1 April 2025, he will hand over his responsibilities and the leadership of Swiss Life Asset Managers to Per Erikson. 👉 https://lnkd.in/dffKsQw #HY2024 #AssetManagement 

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A functioning infrastructure is essential for the economy and society, as are the necessary investments. As an asset class, infrastructure is a special kind of investment and is particularly suitable for investors with a long investment horizon. Through its funds, Swiss Life Asset Managers enables long-term direct investments in infrastructure companies in the mid-market segment. The funds focus on sectors such as transport, renewable energy and digital infrastructure, with an emphasis on Core/Core+ infrastructure in OECD countries. In his article, our expert Chris Manser discusses the criteria used to select infrastructure companies in order to achieve long-term profitability with limited volatility. Find out more 👉 https://lnkd.in/eAVAhMUw #Infrastructure #Investments 🔎 With our infrastructure investment solutions we support our clients in achieving their long-term investment objectives, which in turn also take account of their client’s needs so they can plan their future in a financially self-determined manner. 

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Using CMAs in robust portfolio construction – art, science, or both? As Swiss institutional investors, it is crucial to understand and correctly interpret capital market assumptions (CMAs). CMAs are forward-looking estimates of the returns and risks associated with different asset classes. They play a significant role in portfolio construction. Refresh your finance theory and combine practical insights from Mercer’s experience in constructing institutional portfolios. In this paper, we discuss the importance of considering the entire probability distribution, including the tails, when analyzing CMAs, and highlight why using mean-variance optimization solely for creating an initial strawman portfolio is a reasonable approach. Find the full article here: https://lnkd.in/dSf8GjgE MercerInsight® Community provides access to the latest strategic investment research from Mercer and thousands of third-party publishers. Membership is complimentary and it's quick and easy to join.   #Investments #InstitutionalInvestments #PortfolioConstruction #MercerInsight

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🔹 Alternative Assets News in the Swiss Financial Market 🔹 At SMAT, we understand the growing popularity of private assets, driven by their potential for greater returns and downside protection. What are Alternative Assets? Alternative assets are non-traditional investment vehicles that include private equity, private debt, real estate, infrastructure, and commodities. These assets typically exhibit low correlation with standard financial instruments like stocks and bonds. As mentioned in 2023 in a study by Lombard Odier involving 300 wealthy Swiss investors (HNWI), 42% have increased their investments in alternative and unlisted assets. Notably, 43% of Swiss-German investors believe private assets have shielded their wealth from market turbulence, compared to 24% in Romandy.   Unlisted assets have often outperformed, delivering double-digit returns over the past 20 years. Two-thirds of investors under 35 expect higher returns from private investments compared to traditional markets. The trend towards alternative assets is on the rise, with significant growth anticipated by 2025. Let's explore alternative investment opportunities to maximize your returns and strengthen your portfolio. 🌐🔍 You are a professional of finance. Join our wealth management community and get access to our latest exclusive private market opportunities at https://lnkd.in/ezmFhtmS   #Investment #Finance #AlternativeAssets #HNWI #PortfolioDiversification

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Switzerland has a large number of Single Family Offices. A study now highlights their importance for the Swiss financial center and points out some issues. #castlefamilyoffice #swiss #gold Secrecy is inherent to the nature of Single Family Offices. Another hallmark is their economic power: Single Family Offices manage vast fortunes. In the industry, they are often referred to as a sleeping giant. Assets Under Management (AuM) of CHF 600 Billion This description fits quite well, as a study by the Swiss Institute of Banking and Finance at the University of St. Gallen (SBF-HSG) commissioned by the Swiss Single Family Office Association (SFOA) shows. It concludes that the net assets of Swiss Single Family Offices (SFO) amount to 600 billion Swiss francs, including stakes in family-owned businesses. By comparison, external asset managers (EAM), including Multi Family Offices, managed assets of around 500 billion Swiss francs. The study also shows that Single Family Offices are a young industry. Unlike SFOs abroad which often serve a family over many generations, most Family Offices in Switzerland primarily serve the first and second generations. Many Single Family Offices are Backed by SME Companies For the study, 220 Single Family Offices based in Switzerland were contacted, and 70 responded. The association estimates that there are between 250 and 300 SFOs in Switzerland, so the responses represent about 25 percent of the industry. It is also noteworthy that 70 percent of the surveyed SFOs are backed by a family business, mostly SMEs. This underscores their significance as an economic factor. In 70 percent of Swiss Single Family Offices, the family is actively involved. «Single Family Offices are an essential part of the DNA of the entrepreneurial country Switzerland,» says Kurt Moosmann, President of the SFOA, in an interview with finews.ch.

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🇨🇭🔍 What is a Swiss Fund Representative, and why do foreign funds need one? 💡 In Switzerland, a foreign collective investment scheme looking to tap into the Swiss market may need to appoint a Fund Representative. But what exactly does this role involve, and how does it protect Swiss investors? A Fund Representative acts as a local intermediary between Swiss investors and foreign funds, as well as between FINMA (the Swiss financial regulator) and these foreign funds. This ensures a high level of transparency and compliance with Swiss regulations, while offering essential protection to investors. 🛡️ The Fund Representative plays a critical role by: - Providing key fund documents to Swiss investors on request - Verifying that all legal disclosures meet Swiss requirements - Assisting with any questions or complaints from investors regarding the fund Additionally, the Representative serves as a bridge between foreign funds and FINMA—reporting any major issues such as loss of a license, and supporting fund registration and ongoing compliance for funds targeting retail clients in Switzerland. 📑 All Swiss Fund Representatives must be licensed by FINMA and adhere to strict codes of conduct, ensuring they operate with loyalty, due diligence, and transparency. 💼 Curious to learn how we can support your foreign fund’s entry into Switzerland? Let’s discuss how our Fund Representation & Paying Agent Services can help you navigate this regulatory landscape with confidence. 👉 Contact Antoine Royer & Marlene Valentin to learn more, or visit our dedicated page: https://lnkd.in/d66Jz3pe #FundRepresentation #SwissMarket #FINMA #InvestmentFunds #Compliance

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👉 Getting started with Stewardship: Deep-dive on Governance & Stewardship Policies 👈 The Asset Management Association Switzerland (AMAS) and the Principles for Responsible Investment (PRI) are delighted to invite to the second roundtable on Stewardship. Join us for insightful roundtable discussions as asset managers or asset owners to engage in concrete insights on how to get started with stewardship! https://lnkd.in/eCcrSEZF

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📈 Investment Theme: ETP+ on the BX Swiss Top 30 Index - Full Participation, Added Security With a brightening economic outlook and potential interest rate cuts, Swiss shares could continue their recovery in the second half of the year. #Diversification is key, and the BX Swiss Top 30 Index offers broader exposure than the classic SMI. The 20 SMI members are joined in the index by another ten stocks. And these are certainly pack a punch: the 10 selected have delivered an average rise of 6.1% in the year to date. Explore this week's #investmenttheme and discover the benefits of the #ETP+ on the BX Swiss Top 30 Index: https://lnkd.in/dsFvvjBc #structuredproducts #etp #bxswiss

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The #Swissfundmarket surged to a new high of CHF 1,506,776m in the first half of 2024. According to the latest report by the Asset Management Association Switzerland (Amas), #volume has grown by 10% (CHF 138,029m) since the end of 2023. The #Amas said #equitymarketreturns were the main #growthdriver, although this slowed in the second quarter of this year.  1. The #return on #equityfunds, which was calculated based on #netassetvalues, reached 14.3% in the reporting period. 2. Meanwhile, #bondfunds returned 3.2%, while 3. #investmentstrategyfunds achieved 7.2%. 1. However, Amas also noted that #equityfunds still suffered outflows of CHF 3.6bn, despite the positive environment in H1 2024. 3. #Investmentstrategyfunds saw outflows of CHF 3.5bn, while alternative investments lost CHF 1.5bn.  #Netnewmoney inflows remained at a low level with an increase of 1.6% (CHF 9.2bn) and continued to be limited to #lowriskassetclasses, such as #bonds (CHF 9bn) and #moneymarket (CHF 10bn). Top Dogs The report also examined #Switzerland’s largest #assetmanagers and found the #hierarchy remained unchanged. 1. Top dog UBS had the largest slice of the market at 25.4%, 2. followed by Credit Suisse at 11.3%. The Amas said the #mergedentities continue to be recognized #separately by the statistics as long as the #funds remain named accordingly. Of the #largestfund providers in #Switzerland, Swisscanto Fund Management Company Ltd. increased its market share to 10.5%, while Pictet Asset Management rose to 6%.   https://lnkd.in/e5qsVCVJ

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The Unbearable Loneliness of the Last Major Swiss Bank: With the AGM now behind it, UBS faces the protracted work of fully integrating what was once Switzerland's second-largest bank. Beyond that, a possible straightjacket of stricter capital requirements. The question is really whether it – and the country – are still a good fit. #ubssupervisionheadquartersstrategy

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MERGER ANNOUNCEMENT : UBS / Credit Suisse REAL ESTATE FUNDS UBS Asset Management just announced the future merger of major funds in Switzerland, reshaping the real estate landscape and opening new opportunities for investors. With access to granular data by Quanthome, our clients can already simulate future portfolios and benefit from our actionnable insights to take better investment decisions. Discover deep insights about the future portfolios of UBS / CS merged funds: - CS LivingPlus / CS Hospitality / UBS Direct Residential / UBS Residentia - CS Green Property / UBS Direct Urban - UBS Swissreal / CS Interswiss. Contact Quanthome to anticipate market evolution and stay ahead. #Fintech #BigData #Investment #Quanthome #UBS #CreditSuisse #RealEstate #Innovation #Sustainability

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The real economy matters when setting monetary policy. Here I look at the output gap as a measure of the state of the business cycle in Switzerland. The main problem with output gaps for central banks is that the data is lagging — eg., we still don’t know 2024Q2 GDP (although nowcasts are available at https://lnkd.in/d425Ex_S) and thus can’t compute the output gap beyond 2024Q1.

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Philipp Fischer and Philippe Bens presented the "L-QIF" in the context of at the annual EAM Day hosted by SPHERE Swiss Financial Arena. The Limited Qualified Investor Fund (L-QIF) has been in force since March 1, 2024. The L-QIF is a new category of collective investment, designed to enhance the attractiveness of Swiss investment funds. The L-QIF is not subject to FINMA authorization. It is reserved to qualified investors and is generally administered by a fund management company. You will find below three short videos (3 minutes each) presenting this new instrument: L-QIF – Part 1: Key features (https://lnkd.in/eyrcrkhm) L-QIF – Part 2: Specific aspects (https://lnkd.in/enfaVQHx) L-QIF – Part 3: Use cases (https://lnkd.in/eTrtWvMJ)

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This is a great beginner’s guide for our network of Hedge Fund managers looking to navigate the Swiss regulatory landscape. Switzerland presents a unique opportunity, particularly with its large pool of high-net-worth individuals, but understanding the rules is key! Here are some key takeaways: ● Know Your Investor: Switzerland has a three-tiered system for investor classification: Institutional, Professional, and Retail. Each category has different rules, with the most stringent applying to Retail investors. ● High-End Retail Offers Opportunity: While marketing to Retail investors is generally restricted, certain “high-end” Retail investors can opt out of this classification if they meet specific knowledge and asset criteria. This opens up an avenue for reaching a broader investor base. ● Compliance is Crucial: Failing to comply with Swiss marketing rules can lead to hefty fines, reputational damage, and even prison sentences. Make sure you’re up-to-date on the requirements! Connect with our network of professionals that can help you navigate complex regulations: #HedgeFunds #Investing #RaisingCapital #Investors #Fundraising #AssetManagement

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According to our Swiss & Global Equity experts, positive links have been drawn between superior levels of value-creation, larger market capitalisations, and stable earnings estimates. Find out about the team’s tried and tested CFROI® investment concept. https://lnkd.in/ecVHEb39

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🇨🇭 The Swiss National Bank (SNB) has raised concerns over its low equity in relation to its large balance sheet. President Martin Schlegel has emphasised that extending the SNB's capital base should take priority over distributing profits to the Swiss government and cantons. This comes as the bank considers not making a payout this year, despite posting a solid profit in the first nine months. 🔹 Balance Sheet Size: The SNB’s assets are valued at approximately $940 billion, with the bank's performance highly dependent on global market developments, which can fluctuate quickly. 🔹 Impact of Foreign Currency Purchases: The large balance sheet is primarily the result of foreign currency purchases aimed at reducing pressures on the Swiss franc following the 2008 global financial crisis. 🔹 Monetary Policy Considerations: Schlegel has reiterated that the SNB could take interest rates negative again if inflation remains below its target range. Current Swiss inflation stands at just 0.6%, well within the SNB’s target of 0-2%. 🔹 Impact on Government Payouts: The SNB has skipped distributing earnings to the government in the last two years after posting a record loss in 2022. Schlegel’s recent remarks indicate the possibility of withholding payouts again this year to strengthen the central bank's capital position. 📞 Let IWP help you navigate financial complexities with confidence. Book your free consultation today ➡️ https://lnkd.in/dTmZWFgx #IWP #economy #switzerland

OPINION The big question for UBS shareholders is how badly its share buyback promises will be knocked by the Swiss government’s desire to pursue higher capital requirements. The answer isn’t clear yet, but the truth might be: Not much. Chief Executive Officer Sergio Ermotti said during UBS’s first-quarter results on Tuesday that the bank itself was in the dark and hadn’t been consulted on the government’s thinking, leaving some uncertainty hanging over its longer term goals. But in the here and now, UBS is seeing fine progress. Results for the first three months put the bank well on course to beat its targets for integrating Credit Suisse and returning capital to investors this year. The shares rose 10% in morning trading. by Paul Davies #Switzerland

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📢 Detailed statistics, broad Insights – discover the latest edition of the Fixed Income Market Report: https://six.swiss/3ZGkPFZ 🔎 The monthly Fixed Income Market Report provides investors and interested parties a quick and comprehensive overview of the listing and trading activities in the Swiss franc bond market. If you’d like to receive it per e-mail every month, you can subscribe for free on our website: https://six.swiss/3ZCifRc 🌐 The bond market on SIX Swiss Exchange is truly international, with over 650 foreign issuers from more than 40 countries on five continents. That includes sovereigns, supranational organizations, corporates and financial institutions. ➡️ The wide range of instruments includes straight bonds, floating-rate bonds, convertible bonds, exchangeable debt securities, asset-backed securities, green bonds and participation notes. #B1Gnumbers #fixedincome #debtinstruments #trading #statistics André Buck Ueli Goldener Marco Wirz

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Swiss Life Asset Managers: Capital Increase Sets New Benchmark: Swiss Life Asset Managers successfully completes the largest capital increase to date for a publicly listed Swiss real estate fund, raising approximately 610 million Swiss francs in new capital for the fund. #swisslifeassetmanagers #capitalincrease

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