THE determining portfolio clôture ce mois d'avril avec un pretty gain of 2.8%. Even though it is doing less well than its benchmark index, the MSCI Switzerland (+7%), this is a very good result over one month, perfectly in line with the expected profitability, and even beyond. Clearly, there was a catch-up effect for the Swiss index, which had lagged considerably behind the PF in recent months. It was also helped in this sense by the strengthening of the Swiss franc against the dollar (+1.1%).
This gives us a performance in CHF since the beginning of the year of 11.6% for the determining PF. C'est un très bon résultat en seulement cinq mois. Malgré le rebond de ce dernier mois, l'indice suisse demeure toujours derrière le portefeuille. Toutes les stratégies font mieux que le marché, sauf les Blue Chips, qui traînent pour l'instant un peu la patte. La stratégie QVM a quant à elle fortement rebondi ce dernier mois, rattrapant son retard sur le Trading Auto Signal et la Tactical Asset Allocation.
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 still performed 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 6.9%).
MSCI Switzerland portfolio and index since 2010 (performance in CHF)
Portfolio Update
The determining portfolio will be updated shortly in the members section.
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