Due to the weakness of the US dollar, falling US real interest rates and geopolitical uncertainties, the price of gold has reached an all-time high. Global stock indices have fully recovered from the interim losses in August in a classic V-shaped recovery. The S&P 500, for example, is back near its peak.

The European Central Bank (ECB) has, as expected, cut key interest rates for the second time by 0.25%, but left open whether a further rate cut will follow in October. Growth forecasts for the eurozone have been revised slightly downwards. The US Federal Reserve (Fed) cut interest rates by 50 basis points to a range of 4.75% to 5%. Calculation LMM; Period 01.01.2024–09.30..2024

Both in the third quarter of 2024 and in the current year, all CHF and EUR investment strategies show a positive result. For the current year, the higher the equity ratio, the better the performance. For the past quarter, the opposite applies: the lower the equity ratio, the better the result. Since the beginning of 2024, the CHF investment strategies have produced results between +3.03% and +10.75%. The EUR investment strategies are in the range of 2.69% to +10.53%.

Calculation LMM; Period 01.01.2024 – 30.09.2024
 

Note: the figures are before costs
Calculation LMM; Period 01.01.2024 – 30.09.2024