Nicolas Peter looks back on a pleasing year: investors achieved impressive returns despite the weaker performance of the Swiss stock market. The US market in particular shone with a performance of 28%.
We remain optimistic for equities in 2025 - albeit with more volatility. The US market impresses with strong earnings growth, while the Swiss market scores with solid dividends. Gold remains an important portfolio component, supported by central bank purchases, falling interest rates and rising debt.
The Aquila Investments team is looking forward to an exciting new year!
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The future of an independent asset manager depends not only on smart investment decisions, but also on well thought-out succession planning, writes Markus Angst in a guest article on finews.ch. Those who ignore this issue risk not only their own success, but also the trust of their clients. Read the full article at finews.ch.
President-elect Donald Trump can implement his policies without restriction with the support of both chambers, which can have an inflationary effect in extremis.
"America First" will have a positive impact on US growth. The international effects depend on the specific implementation of the measures, as well as the countermeasures - as the example of China shows.
Western central banks are expected to cut interest rates further by 2025 to support the economy, while the BOJ is likely to move further away from its zero interest rate policy.
Lower financing costs are also welcomed due to the high and rising national debt in some cases.
The bond markets have calmed down following the US presidential election. Investors are keeping a close eye on the development of government debt.
There was profit-taking on the US stock markets following the US election. In Europe, the markets have been under pressure since the end of September. We remain cautiously positive about further developments. Geopolitical risks and customs discussions could weigh on the stock markets.
The US dollar is trending firmer after the election, while the Swiss franc is showing relative strength, especially against the euro.
The long overdue technical correction in gold has taken place. We remain positive in our medium-term assessment.
Independent asset managers looking for a successor have several options available to them today. Many of them find themselves in this situation today. Vivien Jain examines the various scenarios and their advantages and disadvantages. Regardless of which scheme is chosen, the time factor plays a crucial role in the process. Read the full article here [...]
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