Publications

Letter from the CIO - October 2020

Our Chief Investment Officer gives an overview of market developments and our portfolio activities in the past month.

October 12, 2020

Publications

Letter from the CIO - October 2025

Markets in Suspension: Between Euphoria and Caution

October 15, 2025

Publications

Letter from the CIO - September 2025

Towards Global Reflation, but Under Certain Conditions

September 17, 2025

Publications

2025 Outlook – Second Half

The first six months of 2025 have reshaped our view of global macroeconomic dynamics. A sequence of unexpected events has led us to reassessour convictions and adjust our positioning.

July 10, 2025