Determinant portfolio: situation as of 01.04.2024

In detail, here is the performance of the month in CHF of the portfolio, of each of its strategies and of its benchmark index, the MSCI Switzerland:

Determinant portfolio	4.08%
Quality Value Momentum	-1.6%
Blue Chips	4.3%
Trading Auto Signal	4.5%
Tactical Asset Allocation	12.5%
MSCI Switzerland	4.8%

This time, the result, even if it is excellent, is slightly less good than the Swiss market. It must be said that the latter has experienced an exceptional performance, following two first months of mixed results. This underperformance of the PF compared to the market should not make us forget that 4% over a month is more than pleasing, especially since this is added to two very strong first months. The performance is all the more remarkable since the cash share fluctuated between 3 and 23%The decline in the Swiss franc helped once again, with a drop of 2.7% against the dollar.

There QVM strategy, after two incredible first months, has had a negative performance, slowing down the overall performance of the PF. This explains why the latter has done less well than the market. There is nothing very surprising about this, we know that this strategy, because of micro-caps, is highly volatile.

There Blue Chips Strategy roughly follows the market performance, which in itself, given the result, is already very good.

THE Trading Auto Signal by being invested less than half of the month, did almost as well as the Swiss index, with obviously much lower risk. There too, it is very good.

Last but not least, the TAA strategy has brought everyone together with a result that is once again indecent, thanks to the stratospheric rise of cryptocurrencies and gold, also supported by a good performance of treasury bonds.

Performance depuis le début de l'année en CHF

This gives us a performance in CHF since the beginning of the year of 11.6% for the determining PFThis is a superb result in just three months, which leaves the Swiss market far behind.

Notons encore que la volatility continue à être maintenue parfaitement sous contrôle, avec des chiffres qui font plus penser à des obligations gouvernementales qu'à des actions. Ceci permet de bénéficier d'un bien meilleur ratio Sharpe que le marché (qui mesure la rentabilité par rapport aux risques). Autrement dit, With equal risk, the PF performed much better than the market.

Determinant portfolio and MSCI Switzerland index since the beginning of the year (performance in CHF)

Performance since 2010 in CHF

Since its launch in 2010, The portfolio still maintains a slight lead over the Swiss market (7.6% annual average against 6.8%).

MSCI Switzerland portfolio and index since 2010 (performance in CHF)

Portfolio Update

The determining portfolio will be updated shortly in the members section.