The end of reliability
In times of political arbitrariness, a long-term focus is the most dependable anchor.
Investment compass – August 2025
The monthly publication includes a topical editorial, our positioning including the conclusions from the analyses, a market overview of the most important asset classes, an assessment of the current economic situation in various regions, and our current model portfolios.
When shared values are eroded, the law of the jungle is suddenly what counts.
Positioning
Global opportunities instead of cluster risk
We’re currently seeing more opportunities in equity markets outside the USA and, given the geopolitical tensions, are maintaining our overweight position in gold.
Market overview
Sigh of relief
The new punitive tariffs are significantly higher than the previous base tariff of 10 percent. Yet, the markets seem relieved that in many cases, the tariffs are lower than threatened.
Economy
USA the focus of global economic concerns
Both the economic downturn in the USA and the latest punitive tariffs are weighing on the global economic outlook.
Model portfolios
US equity market remains underweighted
The downside potential on the expensive US stock market, which is dominated by tech stocks, remains high. We therefore remain sceptical towards the US stock market and are retaining our underweight position in favour of global value stocks and emerging market equities.
“Investing with foresight” short video
In our video, our CIO provides an update on the current situation on the financial markets and explains events in just a few minutes.
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Investment compassInformation relevant to your investment decisions. The “PostFinance market view”, complete with our position on and assessment of the financial markets and the overall economic situation.
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