Investment Process

Our team of analysts and managers hold daily investment meetings on the news flow and global market developments. Portfolio investments are discussed and reviewed on a weekly basis by the Investment Committee. We produce our own primary research on Swiss and international companies. New ideas are proposed and challenged by each team member of the Committee. This results in strong convictions that we can quickly implement across the portfolios.

Our analysts are in direct contact with the top management of individual companies. Our analysts are authorities in their respective fields and are experts in the in-depth analysis of their sectors. We take part in more than 200 meetings or presentations each year. In addition, we are in constant contact with the most recognized analysts from Zurich to Wall Street and diligently review their reports.

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Investment Philosophy

We adopt a long-term investment philosophy, based on the real economy and the strong convictions of our Investment Committee.

“Our added value: the right balance between active and passive management”

We distinguish ourselves in our balanced mandates by applying the right mix of active and passive management. Our outperformance is mainly achieved through asset allocation, which is based on our in-depth investment research. Our senior specialists are authorities in their respective sectors. Our investment philosophy combines two complementary approaches: asset allocation (Top-Down) and security selection (Bottom-Up). The Top-Down (macro) approach determines the asset allocation and the geographical (global) allocation. We believe that security selection outside of Switzerland increases risks more than it increases returns. Thus, with regards to foreign equities, we invest mainly through passive open-architecture funds.

“Stock picking: strong convictions on Swiss equities and value investing”

Our active management in Swiss equities is based on strong convictions and is in line with our value investment style. We select stocks that trade below their intrinsic value. In addition, we differentiate ourselves through our exceptional network of direct connections with CEOs and CFOs within our investment universe, which are the source of our historical outperformance.

Investment philosophy
Long term, Real economy, Value investing, Strong convictions, Top down, Bottom up
Investment committee
Macro analysis, Valuation, Long-term view, Expert debates
Portfolio construction
Final investment selections, Integration of ESG criteria
Risk control
Risk control through the use of an optimizer
Performance Analysis and Periodic Review
Global performance review as well as by asset class

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Our team of analysts and managers hold daily investment meetings to review the news cycle and global market developments. Portfolio investments are discussed and reviewed on a weekly basis within the Investment Committee. We produce our own primary research on both Swiss and international companies. New ideas are proposed and challenged by each member of the Committee. This results in strong convictions that we can quickly implement across portfolios. Our teams of analysts have direct contact with the top management of individual companies. Our analysts are authorities in their respective fields and are experts in the in-depth analysis of their sectors. We take part in more than 200 meetings or presentations every year. In addition, we are in constant contact with the most recognized analysts from Zurich to Wall Street and diligently review their reports.

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Portfolio construction is based on a strategic allocation of asset classes (equities, bonds, real estate, currencies, alternative investments) which is based on our outlook on expected performance. Once this allocation has been defined, we analyse each segment of an asset class individually (e.g. Swiss equities vs. US equities). The respective outlooks are then calculated, and we decide on their weighting. Security selection is a key element in the construction of any portfolio, this is why we pay particular attention to the analysis of the companies in which we invest. We do this through numerous meetings with the CFOs, CEOs of the selected companies and a detailed analysis of their financial statements.

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Our approach to risk combines an investment policy that takes into account strict restrictions in terms of weighting per investment, but also an optimisation system (optimizer) for asset classes based on their risk analysis in relation to expected return (risk/return analysis).

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Our quantitative allocation system produces monthly performance reports.

We analyse the deviation and impact of our investment strategy, both by asset class and by individual security, in relation to BVG indices.

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As an independent Asset Manager, we have the freedom of open architecture when choosing the best products. With this approach we greatly reduce counterparty risk. We do not buy passive GMG products, but diversify issuers. This means that we are not under any pressure in the event of a crisis to keep in-house passive products in the portfolio. We work with the custodian bank chosen by the client and thus guarantee additional mutual control between the bank and GMG.

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    GMG brochure

    For more information on our Asset Management offering, click on the link below to request a brochure.

    Funds & mandates

    We differentiate ourselves through our exceptional network of direct connections with the CEOs and CFOs of our investment universe, which is the source of our historical outperformance.

    ESG: Act responsibly. Think sustainable.

    We incorporate sustainability factors into our investment decisions. We believe that relevant ESG information can provide appropriate insights into both risk and investment opportunities, with creating and growing wealth, responsibly, always front of mind.

    Media

    MARKET ANALYSIS

    MARKET ANALYSIS

    Quarterly Newsletter – Q3 2021

    GMG AM NEWSLETTER – Q3 2021 Headlines Nos mandats diversifiés progressent de plus de +8% et surperforment leur indice de référence Notre gestion diversifiée […]

    COMPANY REPORTS

    COMPANY REPORTS

    Logitech

    The firm, renowned for its computer mice, has evolved over the years into a provider of peripherals for personal computers and other mobile devices […]