News ARCHIVe
The US dominates the global economy on the back of its innovation strength, energy independence and a sparsely regulated market. But how will Donald Trump’s re-election affect this successful model? Announced tariffs and tough measures on immigration will redefine opportunities and risks, as they are particularly at odds with lowering inflation.
After running in top shape up to 2017, the German economy has been going through a valley of tears for several years now. Gross national product is stagnating, the energy crisis is biting and now there are also plant closures at VW in the home market. What is going on with Europe’s former model economy?
Financial markets experienced a significant increase in volatility during the last quarter. In an attempt to minimize the risks of an economic downturn, central banks have cut interest rates – for the first time also in the US. Will this suffice, though? Find out more in the latest issue of Belvédère Market Insights.
Time for change – Jerome Powell hinted at this year’s meeting of central bank governors that an easing of monetary policy is now possible. The weak labour market has replaced inflation as the number one risk issue. Read more about it in these Belvédère Market Insights.
In July, the trend reversed for the first time – the former winners in the pharmaceutical and technology sectors took some hard blows. Who benefits from the rotation? Find out more in our Market Insights.
After a favourable start into 2024 with clearly positive results practically everywhere, there were considerable regional differences in equity market performance during the second quarter. Meanwhile, the Swiss market sent a strong favourable signal. Read more about it in our Market Insights.
The US presidential election is five months away – will Biden win again against Trump? Which topics will be crucial? One poll suggests, though, that voters would prefer other candidates anyway. Read more about it in this issue of Market Insights.
Where are interest rates heading? The US economy is performing better than anticipated, but inflation is more persistent than expected. What impact will this have on Switzerland? You will find our thoughts on this the latest issue of Market Insights.
What a successful start into 2024 for investors! All asset classes, with the exception of bonds, made gains. This was not exactly a performance everyone would have expected. Risk concerns were brushed aside and signs were set for “risk-on” instead. Read more about this in these Market Insights.
The TMT boom peaked 24 years ago – and then it burst, setting off huge losses. With artificial intelligence, we are standing on the verge of the next technological revolution. Will we soon be facing another crash due to hasty growth?
Many Swiss companies are struggling with the strong franc. The euro and US dollar do not appear to be in a position to bring about major corrections – inflation and debt are far too high. Our CEO describes dealing with the current strength of the franc as a fitness programme.
After a horrible 2022, a recovery on the financial markets was to be expected, which actually materialised thanks to a high in summer and a late rally. The current environment is therefore “constructive” and gives us hope for a positive investment year in 2024.
Over the past two decades, global economic development has increased and led to strong international dependencies. Will a phase of de-globalisation now follow? If so, will it be substantial?
The cause for the rise in interest rates in recent weeks and months is not easy to see. Can artificial intelligence shed light on the matter? We asked ChatGPT. And we received an answer that is reassuring, anyway for analysts.
H4L: A new acronym is taking hold around the financial markets. The realisation that interest rates will remain high for longer has left a distinct mark on financial markets lately. Was that it on the interest rate front? And what else are investors to expect till the year’s end?
While the SNB tried to weaken the Swiss franc for years in the past, it has been deliberately strengthening it for the past year in order to cushion inflation. What is better for an economy – a strong currency or a weak one?
With few exceptions, the half-term review of financial markets is positive. What happens next is still uncertain, as opportunities and risks continue to balance each other out. The mist might clear sometime after September.
With few exceptions, the half-term review of financial markets is positive. What happens next is still uncertain, as opportunities and risks continue to balance each other out. The mist might clear sometime after September.
The current market environment offers arguments for optimistic as well as for pessimistic investors. This is often the case, but it is particularly pronounced at the moment. Ultimately, being ‘bullish’ or ‘bearish’ is down to weighing the positive factors against the negative ones.
The Corona pandemic has left national budgets deeply scarred. What are the implications of higher debt amid rising interest rates? That rather depends on the bonds’ maturity structure. Switzerland is positioned quite well in this respect.
The economy as well as markets did better than expected in the first quarter. However, the Silicon Valley Bank and Credit Suisse fared worse than feared, which almost led to a full-scale banking crisis. Albeit the dust may have settled a little lately, there is no cause for euphoria.
Central banks are meant to ensure price stability. That went well for many years. However, when monetary watchdogs went on to a policy of strictly preventing a downturn and raising inflation to the 2% target, they laid the foundation for today’s high inflation rates. The road back could be long and winding.
We are appointing Martin Scholl, the former CEO of Zürcher Kantonalbank, as an additional Member to our Board of Directors. With this election, we will be strengthening our Board of Directors’ competences in the areas of asset management and wealth management, thus setting a clear signal for the company’s future strategic development.
US debt has hit the statutory limit. This means, the US government cannot take on any new debt. The remedy would be for Congress to raise the debt ceiling. Usually, a matter of routine. However, with today’s deeply divided political landscape in the US, this may prove anything but routine and rife with potential to disrupt markets.
2022 was an “annus horribilis” for investors. All asset classes closed in the red for the year. The situation will calm down in 2023 and the Fed might even achieve the impossible. However, there is no reason to be euphoric.
Markets often seem to be emotional rather than rational. However, emotions are not included in the theory of efficient markets. Are markets now rational and efficient or are they irrational and inefficient?
It creates a leading independent asset management group covering a wide range of attractive asset classes. The current shareholders of Belvédère will acquire a stake in Fundamenta Group. Belvédère will be able to draw on the holistic real estate expertise of the Fundamenta Group and will continue to operate as an independent subsidiary with the same organisational structure under its current name.
Until recently, things were clear: China is huge, has opened up and is growing at an extraordinary pace. And there was little doubt that the country would keep gaining economic and political clout. Meanwhile, several cracks have opened up in these presumed certainties. Is China now friend or foe?
Europe is at a structural disadvantage right now. But there are opportunities for bold investors.
In the latest special supplement to Finanz und Wirtschaft, Thomas Heller elaborates on why the euro is a blessing on the one hand, as it makes life easier, but at once also a curse, as its structural framework is based on a misconstruction. Interesting background information and details are available here (in German only).
“But this time it’s different” – we have heard it said time and again, usually to justify an extraordinary market development. Most of the time, however, it is not different at all and general market principles prevail. Yet, this time it actually is different than usual …
We are proud to join the UN Global Compact Network Switzerland & Liechtenstein and underline our commitment to sustainability. We are committed to implement the ten principles of the UN Global Compact and we fulfil our social and environmental responsibility by establishing a value-based corporate culture.
The UN Global Compact is a worldwide pact between the UN and businesses to achieve a socially and environmentally more sustainable globalisation.
2 September 2022 – Market Insights – Germany is booming
An intentionally tantalising headline, for sure. You may find it even somewhat confusing, since the media have done everything to convince you of the reverse over the past weeks and months. The general anchor was Germany’s trade balance slipping into negative territory in May 2022 for the first time in 30 years, which means that the value of goods Germany imported exceeded its exports. There was even talk of the exporting world champion’s demise.
26 August 2022 – Interview with Thomas Heller
“No negative news are reflected in current stock prices.” In an interview with the BILANZ business monthly, Thomas Heller shares, among other things, his take on the prevailing optimistic mood among investors.
5 August 2022 – Market Insights – whatever it takes 2.0
“Is the eurozone facing a new debt crisis?” The editorial in the August issue of Market Insights addresses this question and sheds light on current market developments. In addition, the publication contains interesting commentary on world economy, interest rates, equities as well as performance assessments for other asset classes.
6 JULY 2021 – New COO at Belvédère Asset Management AG
As of 1st July 2022, Martina Kessler will took on the role of Chief Operating Officer and become a member of the Executive Board. She has been Head Legal, Risk & Compliance within the COO division at Belvédère Asset Management AG since January 2018 and her scope of responsibilities has been growing continually over the past four years. Martina Kessler is a proven expert in all legal matters concerning the environment in which our company operates. With her appointment, all business areas of the company will be represented in the Executive Board.
4 JULY 2021
We are delighted to present the first issue of our new investment publication Market Insights. In our Market Insights we will help you put current market into perspective and provide an outlook on how financial markets might evolve going forward. It will be published monthly and is available in printed form or as an electronic newsletter.
6 DECEMBER 2021
As of 1st April 2022, Thomas Heller, 55, will take up the position of Chief Investment Officer (CIO) and become Member of the Executive Board at Belvédère Asset Management AG. He is a well-respected authority in the financial industry and known as an experienced investment professional with extensive expertise in research and asset management.
9 JULY 2021 – BELVÉDÈRE ASSET MANAGEMENT AG – CHANGES IN BOARD OF DIRECTORS
At its last annual general meeting, Belvédère Asset Management AG made changes to its Board of Directors. Rolf Bögli, an asset management expert, has joined the Board. Peter Sechler and David Garcia, both of whom have been instrumental in the company’s favourable development over the recent years, have stepped down from the Board.
1 APRIL 2021 – A LOOK BACK AT 20 EVENTFUL YEARS
This year, Belvédère Asset Management AG has a special reason to celebrate. We can look back on twenty years since our company was founded in Zurich in 2001. In that timespan, we were able to build up numerous successful client relationships and grow sustainably by merging the old with the new. Take a look back with us at the most important milestones in our history.
11 JANUARY 2021 – BELVÉDÈRE ASSET MANAGEMENT AG CONTINUES TO GROW IN GLARUS
Belvédère Asset Management AG continues to grow and strengthens its head office in Glarus. With Daniel Peraud, an experienced client advisor has been recruited who is very familiar with the Glarus region.
28 SEPTEMBER 2020 – RENEWAL SPONSORSHIP CURLING TEAM GLARUS BELVÉDÈRE AM
The sponsorship with the Glarus Belvédère AM curling team was extended for a further three years. After three very successful seasons in the juniors, the team is starting again nationally in the elite due to age.
We are pleased to be able to accompany and support the likeable and successful young athletes as a name sponsor in their next career step and look forward to a continued successful partnership.
8. MAI 2019 – BELVÉDÈRE ASSET MANAGEMENT AG MIT NEUEM CHIEF OPERATING OFFICER
Roger Frautschi has taken up the position of Chief Operating Officer (COO) and member of the Executive Board at Belvédère Asset Management AG.
He has more than 20 years of experience in the asset management industry and specializes in operations.
MARCH 1, 2019 – CONGRATULATIONS VICE WORLD CHAMPION!
First participation in the Junior World Championships and immediately vice world champion! We warmly congratulate our curling team Glarus Belvédère AM on this great success and are proud to support a team that shares our core values. For more information on the gripping final, read the article of Südostschweiz.
JANUARY 11, 2019 – LAUNCH OF THE NEW “BELVÉDÈRE IN THE TOWER” EVENT SERIES
Belvédère Asset Management AG starts the year 2019 with the new event series “Belvédère in the Tower”. The first event took place on Thursday, January 10, 2019, in the Schlossturm Pfäffikon SZ with a reading by Michael Theurillat from his book “Lenz”.
6 DECEMBER 2018 – 6. DECEMBER 2018 – PRESENTATION BELVÉDÈRE IMAGE FILM
What do we value most? We have dealt intensively with this question and we are pleased to present our image film.
The individuality of each person reflects her or his personal values. Values take on many forms. We value the things we hold dear. We are discreet. We are passionate. We are in it for the long haul. There is nothing that we value more than your trust in our partnership.
SEPTEMBER 17, 2018 – BELVÉDÈRE ASSET MANAGEMENT AG WITH FURTHER GROWTH STEP
Belvédère Asset Management AG is taking a further step in its growth and is offering its asset management and family office services in Pfäffikon SZ with immediate effect. The new branch office is a clear commitment to the Ausserschwyz region and the left bank of Lake Zurich.
SEPTEMBER 4, 2018 – BELVÉDÈRE ASSET MANAGEMENT AG CONTINUES TO GROW IN GLARUS
Belvédère Asset Management AG continues to grow and strengthens its headquarters in Glarus. With Andreas Luchsinger, an experienced account manager has been recruited who is very familiar with the Glarnerland region.
31 MAY 2018 – 31 MAY 2018 – INTRODUCING BELVÉDÈRE’S „MISSION AND VALUES“
In a constantly evolving world, only those with a vision will understand where the journey needs to go. Only those who have a clear strategy in this dynamic environment will be able to remain on the path they have chosen and achieve their set goals. Therefore, we have refined and specified our mission and strategy as well as our values. Our mission and values are at the core of our daily work.
JANUARY 4, 2018 – NEW ILLUSTRATED BOOK “GLARUS WONDERLAND
Just in time for the Christmas season, Baeschlin Bücher AG is launching its latest illustrated book “Glarner Wunderland”. The work with fantastic images of the Elmer professional photographer Maya Rhyner and her colleague Michele Albrecht, matching accompanying texts by editor Claudia Kock-Marti, let the Glarnerland appear in the best light.
19 JUNE 2017 – 19. JUNE 2017 – INFORMATION ABOUT OUR LOCATIONS IN ZURICH
We would like to inform you that as of Monday, 26 June 2017, our location at Stockerstrasse 42 in Zurich will be discontinued. From this date forward, we will be offering you the same personal service at Bellerivestrasse 42 in Zurich.
6 FEBRUARY 2017 – 9 FEBRUARY 2017 – MERGER OF BELVÉDÈRE ASSET MANAGEMENT AG WITH INTERESTA AG
Belvédère Asset Management AG and Interesta AG combine their core competencies for a joint way forward, forming one of the largest independent wealth managers and family office services providers in Switzerland.
9 SEPTEMBER 2016
Belvédère Asset Management AG is keeping up with the times and presents its new visual identity as of today. With a fresh brand positioning and a modern corporate design, Belvédère is positioning itself as a contemporary and reliable service provider for a sophisticated clientèle.
8 JULY 2016
Giorgio Saraco has taken the executive lead of Belvédère Asset Management AG. Founder Thérèse Lucienne Meier will remain at the company’s core as Vice President of the Executive Board and a member of the Executive Management. Giorgio Saraco began his career at UBS and held various positions with the SIX Swiss Exchange from 2002 to 2009. In 2009, he joined Centrum Bank (Switzerland) AG and was appointed member of the Executive Management in 2012 heading the wealth management division.
29 JUNE 2016 – 29 JUNE 2016 – 15TH ANNIVERSARY
Fifteen years ago, Belvédère Asset Management AG was founded by Thérèse Lucienne Meier on 29 June 2001. Since then, the company has evolved and established itself with remarkable success. Its current team consists of 12 skilled experts who provide consulting services to international and Swiss clients.
