Model portfolios – Swiss focus

valid from 18.11.2025

Potential in emerging market bonds

Market sentiment remained fundamentally optimistic last month, although momentum has lost some of its vigour overall. Technology stocks have come under pressure in recent weeks of trading. We therefore remain cautious about the technology-heavy US stock market and continue to favour global value stocks.

We see new potential primarily in emerging market bonds. Historically, both equities and bonds from these countries have benefited from a weaker US dollar, which has already been evident in emerging market equities this year. Given the further downside potential of the US dollar and the increasingly burdensome debt situation in industrialized nations, we are overweighting emerging market bonds at the expense of US government bonds.

Interest income

Liquidity 2,5%, income 96%, equities 14,5%, alternative investments 14%
Source: PostFinance

Income

Liquidity 2,25%, income 54,5%, equities 29,25%, alternative investments 14%
Source: PostFinance

Balanced

Liquidity 2%, income 35%, equities 49%, alternative investments 14%
Source: PostFinance

Growth

Liquidity 1,5%, income 16%, equities 68,5%, alternative investments 14%
Source: PostFinance

Capital gains

Liquidity 5,5%, income 0%, equities 86%, alternative investments 8,5%
Source: PostFinance
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