All Switzerland articles
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White papers
Fiorino: Where physics meets finance
Fiorino visits Switzerland to uncover the hidden links between the most successful particle physics theory to date and the ongoing Basel bank capital risk management experiment (now in version IV)…
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White papers
Swiss bonds: out of the comfort zone
When it comes to asset allocation, many investors rely on passive and low-cost building blocks, justifying this with the cliche that active approaches do not fulfill their promise anyway and have exorbitant fees.
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White papers
What’s next for the Swiss economy?
Inflation is slowing in Switzerland but the economy remains subject to a great degree of uncertainty. What does the latest Swiss National Bank policy meeting tell us about the outlook?
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White papers
Swiss credit: approximating bond returns
What ingredients go into calculating expected bond returns? Quite a few it turns out. Using a practitioner’s method, we outline one approach to approximating returns for bonds and bond portfolios.
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White papers
Real Estate House View - Switzerland, Second half-year 2023
With the rate hike cycle winding down, an end to rising real estate yields is also in sight.
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Asset Manager News
The Who’s Who of real estate 2023
Media votes UBS managers to leading personalities in Swiss real estate
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White papers
Appraising Swiss bonds: what does price tell us?
Unlike equity prices, bond prices usually depend on elements beyond the fundamental valuation of the underlying entity. In fact, the price on its own typically says little.
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White papers
Swiss inflation target signals more tightening
Following the Swiss National Bank’s latest monetary policy meeting, we consider the inflation backdrop in Switzerland and explore factors that argued against a larger hike.
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White papers
A better ‘airbag’ makes CHF bonds attractive
The first half of 2022 showed that even safe CHF bonds are not immune from painful losses. After many years of excellent performance, the portfolio with all Swiss bonds, for example, did about as poorly as Swiss equities.
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White papers
More Swiss policy tightening, but how?
Concluding seven years of negative interest rates, the Swiss National Bank (SNB) tightened monetary policy at its September meeting, warned that further rate increase could be necessary and joined other global central banks in foreseeing significant risks to the global economy. Lifting base rates by 75bps to 0.50%, the bank also raised its inflation forecasts and unveiled measures to manage excess liquidity.
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White papers
Swiss real estate in an inflationary environment
After decades of continuous low inflation levels, real estate investors are experiencing an environment of elevated consumer price growth all around the world. In this publication, we underline our inflation and interest rate expectations and discuss the potential implications of this complex macroeconomic environment for the performance of Swiss real estate investments.
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White papers
Real Estate Outlook – Switzerland, Edition 1H22
Investor demand for Swiss property remains strong despite the uncertain macroeconomic environment. We expect the future increase of the Swiss interest rate environment to be gradual. Swiss property investments are likely to remain an attractive alternative to a still low yielding bond market.
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White papers
Real Estate House View - Switzerland 2022
The residential sector in Switzerland has a surprise in store in 2021: the 12-year rise in the vacancy rate came to an end. On 1 June 2021, 9.5% fewer apartments were empty. One driver was the increased net immigration from abroad.
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Asset Manager News
Swiss Life - Insights: March 2022
The Swiss Life Asset Managers’ European Thematic Cities Index (TCI) compares European cities across the five Cs. It identifies those most likely to be resilient in the face of unrelenting structural change as well as their individual strengths and weaknesses. We translate the five Cs into city specific themes that resilient cities will need.
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Video
Growing organically - Unlocking value in existing real estate
Transaction yields in the Swiss property market are persisting on a downward trend, widening the income return spread of already invested stock.
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White papers
Country head focus – Switzerland
The country’s financiers and fintech entrepreneurs are developing fresh ideas that are influencing the global evolution of sustainable finance
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White papers
Real Estate House View - Switzerland 2021
The current resilience of the swiss real estate market largely stems from its focus on the residential sector. As rents are not directly impacted by the lockdown measures, investors are therefore focusing on this “safe haven”.
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Asset Manager News
Deka Immobilien purchases office property in Switzerland
Deka Immobilien has exchanged contracts to secure the purchase of an office building in Geneva under a sale and leaseback arrangement with the private bank Pictet & Cie SA. The property is to be transferred to the two open-ended real estate funds WestInvest InterSelect (66%) and Deka-ImmobilienEuropa (34%) by means of a joint venture.
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White papers
Real Estate Outlook – Switzerland
The transaction market remains buoyant as the risk premia of direct property investments persist at an elevated level.