Investment Philosophy

We work with each client to define and develop clear portfolio objectives in the IPS and design an appropriate asset allocation and investment plan to meet those objectives. We believe that a measured and measurable level of risk, disciplined goal oriented security selection, appropriate diversification and a long term focus serve clients best.

The guide to investment is always the Investment Policy Statement.

Equity Investing Philosophy

We believe in keeping equity investments straightforward and understandable. Assets are invested in larger and midsize stocks of both Swiss and global companies. We invest in firms we believe in and we invest for long-term appreciation.

Successful equity investing requires good judgment but also, quite frankly a large amount of luck. To try to reduce the pure chance element we try to focus on the fundamentals of a firm. Valuation being as much an art as science, we are mindful of the need to be objective and not get carried away by the latest fad. We work to evaluate firms on the basis of stability and long term growth prospects.

Fixed Income Investing Philosophy

We believe the main purpose of fixed income investing is to provide clients with a steady income stream, preserve principal and balance the portfolio. Fixed income should serve to reduce overall risk and volatility. The goal of fixed income investing is to maximise after tax return. 

Fund Investing Philosophy

We believe in fund investments for smaller portfolios, in particular Exchange Traded Funds. We further believe in minimising fees and charges on fund investments so far as possible to maximise after tax return. We also believe that fund investments are often the most efficient means to gain exposure to a particular sector of the market, for example emerging markets.

Alternative Investments Investing Philosophy

The issue with alternative investments is just that. They're alternative. You have no idea how they will behave relative to anything else. At least with stocks and bonds, if stocks go down, bonds likely go up and vice versa. A stock will maintain a residual value, generally no less than the net value of the assets of the firm. A bond will generally maintain a value of principal plus coupon, discounted for perceived risk. A hedge fund or private equity fund can have a residual value of zero should things go bad.

The best we can do here is work with experienced portfolio managers and professionals skilled at identifying undervalued asset classes. We will help you select other investment advisors or specialised asset managers as appropriate. We also work with clients to identify the potential advantages of alternative assets in portfolios and select alternative asset managers. We also see the sense in certain structured products to achieve certain, defined goals.

However, our emphasis is always on keeping investments understandable. If we do not understand or cannot explain an investment and how it works, we will not recommend it.