INVESTMENT STRATEGIES
The first quarter will be remembered by all investors. A sell-off on the investment markets has set new standards in terms of speed and scale. In addition to the share price declines, commodities, property values and most bond segments were also sold. In the case of bonds, it should be mentioned that the tradability was severely impaired due to the low volume, so that the buying and selling of bonds was only possible with exceptionally large bid/ask spreads.

Reference date: 31.03.2020


All investment strategies ended the first three months with a minus. The higher the equity quota, the higher the losses. With the exception of US government bonds, the bonds could only support the portfolios to a lower extent. Previous yield contributors such as corporate bonds, emerging markets and high-yield bonds have clearly lost value.