At a glance
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Independent assessment of the portfolio structure
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Knowledge of risks inherent in the investment vehicles
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Identifying potential for optimization and cost reduction
Portfolio structure
Portfolio structure refers to the implementation of the investment strategy. The analysis of the portfolio structure serves to identify the risks and show the potential for raising efficiency and reducing costs.
Mandate structure
Recommendations on mandate structure: ideal number, size and type of mandates or financial products.
Investment guidelines
Drawing up investment guidelines for asset managers ensuring compliance with both the legal requirements and the principles of modern risk management.
Investment vehicles
Analysis of possible risks associated with the products used: counterparty risks, legal risks, concentration risks.
Investment style
Identifying the pros and cons of different investment styles (e.g. active vs. passive asset management) as well as recommending the ideal combination of them.
Benchmark
Working out and establishing benchmarks, bandwidths and rebalancing mechanisms in line with the strategy.
Publications
Challenges and Approaches in Performance Analysis of Illiquid Assets
What challenges arise from the valuation of illiquid assets? What are the implications for investors? And what approaches can be used in performance analysis? Our Managing Consultant Marc Staub answered these questions among others at the IPE Seminar.
UBS Takeover of Credit Suisse
On the evening of 19 March 2023, UBS announced its intention to fully acquire Credit Suisse in close coordination with the Swiss Financial Market Supervisory Authority (FINMA), the Swiss National Bank (SNB) and the Swiss Confederation. According to the SNB's press release, the transaction is necessary to secure financial stability and protect the Swiss economy. In our presentation, we summarise the most important facts about the takeover as well as possible implications for investors.
Current Facts About Credit Suisse
Distortions at the banks in the USA as well as statements by major Credit Suisse shareholders led to renewed high price declines in Credit Suisse's bonds and shares. The bank's stability is particularly at risk if it enters a negative spiral and is confronted by a significant outflow of client funds. In a media release on 15 March 2023, the Swiss National Bank SNB and the Swiss Financial Market Supervisory Authority FINMA commented on the uncertainties in the market as well as on Credit Suisse.
Illiquid Investments: Challenges ahead
Illiquid investments should appeal to pension funds because of their long-term benefits, but are opportunities equal?
Is faith in past winners justified?
Rankings of top performers are publicly available for retail funds. However, databases for institutional mandates (segregated accounts and institutional funds) are still incomplete and rare. For our historical simulation of picking past winners we use a set of track records that were submitted by asset managers as part of public and non-public mandate tenders for institutional clients in Europe.
Challenges Pension Funds Face due to Low Interest Rates
Risk-averse asset-only investors should go for short duration as risk return is distributed highly asymmetrically.
Is factor-based allocation new?
Factor-based allocation may be theoretically interesting for Swiss pension funds but it is hard to implement in a practical way.
Factsheets
Analysis of the portfolio structure
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