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Testing Swiss resilience
Investment Solutions

Dear Investors,

This week we look at the slowing Swiss economy and its implications for Swiss assets.


Key takeaways:

  • The Swiss economy is forecast to rebound slightly next year from 2019’s slowdown
  • Any improvement in international trade, plus bottoming-out manufacturing activity, should support the euro-dollar and weaken the franc as a haven currency
  • SMI equities are not particularly expensive against historic premia, dividend yields remain attractive
  • Swiss real estate looks sound and central commercial and residential markets should deliver positive rents
  • Portfolio construction with a global strategy remains key for Swiss investors.


Best regards,


Stéphane Monier
Chief Investment Officer, Lombard Odier Private Bank

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