Publications

Washington Shifts, Fundamentals Hold

The new political landscape in Washington adds uncertainty, particularly around fiscal policy and Treasury financing needs. However, solid earnings and broadly resilient growth continue to support our central scenario.

  • October’s great rotation: tech out, defensives and value in, and bonds back as portfolio stabilisers.
  • Growth beats on both sides of the Atlantic, but oil keeps inflation sticky, so the Fed and ECB could tighten again in December.
  • AI growth alone no longer pays: investors want returns on capital, margins and cash flow.

Our stance: constructive, more selective, with a tilt towards quality growth and carry.

👉 Read the full CIO Letter

November 10, 2026

Publications

Banque Heritage CEO: “I’m too young to retire"

Geneva-based Banque Heritage is pursuing ambitious growth plans, including a potential expansion into the external asset management business.

November 09, 2026

Publications

Digital sovereignty is a fundamental trend

In Swissquote Magazine’s feature on European digital sovereignty, Eunice Harbeke, Investment Advisor at Banque Heritage, shares her view on this investment theme.

November 03, 2026

Publications

CIO Letter - October 2026

Rate noise, solid fundamentals

October 13, 2026