FERI (Schweiz) stands for comprehensive, individual, transparent and sustainable advice and support. We draw on over 30 years of experience. In collaboration with the other entities of the FERI Group, we offer private investors a wide range of asset management services.
FERI (Schweiz) has a unique expertise in asset management and advisory services for discerning clients. The sustainable quality concept is based on the quality investing approach, in which financially sound companies are identified through targeted selection on the basis of various quality characteristics.
Artificial intelligence (AI), the Internet of Things (IoT) and 5G – exponential technologies will trigger a wave of transformation in society and the environment in the coming decades. FERI (Schweiz) offers the opportunity to actively participate in these developments and to invest in an innovative concept.
FERI (Schweiz)’s employees specialise in providing individual, comprehensive and long-term advice to discerning families. We provide solutions for the preservation and growth of family wealth – for this generation and the next. We offer strategic aset planning, advice on implementation, profitability monitoring, risk management, asset protection strategies and sustainability consulting.
FERI (Schweiz) offers clients a range of advisory services and individual investment solutions to give them clarity as to how compatible their investments are with the United Nations sustainable development goals and increase their understanding of this at the different levels of the investment process.
FERI (Schweiz) has a unique expertise in asset management and advisory services for discerning clients. The sustainable quality concept is based on the quality investing approach, in which financially sound companies are identified through targeted selection on the basis of various quality characteristics.
Artificial intelligence (AI), the Internet of Things (IoT) and 5G – exponential technologies will trigger a wave of transformation in society and the environment in the coming decades. FERI (Schweiz) offers the opportunity to actively participate in these developments and to invest in an innovative concept.
FERI (Schweiz) offers its clients customised solutions and individual investment strategies. Our particular strength lies in mandates with special risk-return targets, which we define individually with our clients.
FERI (Schweiz) offers clients a range of advisory services and individual investment solutions to give them clarity as to how compatible their investments are with the United Nations Sustainable Development Goals (SDG) and increase their understanding of this at the different levels of the investment process.
Set this page to:
Go to FERI in:
CONTACT
Telephone
Contact
FERI (Schweiz) AG

T +41 (0) 44 312 80 80
info@feri.ch


Tödistrasse 48
CH-8002 Zürich

Contact form
Please accept the marketing cookies here to show the form.
Telephone CONTACT
Contact CONTACT
Login
Languages
FERI (Schweiz) AG

+41 (0) 44 312 80 80
info@feri.ch


CH-8002 Zürich
Tödistrasse 48

Contact form
Please accept the marketing cookies here to show the form.
Set this page to:
Go to FERI in:

Markets Update October 2024 - Upward trend on the stock markets continues despite risks

Bad Homburg, 10/22/2024
by Dr. Eduard Baitinger
  • AI hype on US stock markets drives bull market
  • High valuation level as a challenge
  • Markets eagerly await US election

Global stock markets recorded impressive gains at the end of the year. Neither geopolitical tensions nor weak growth in China or the permanent slump in the German economy were able to slow down the bull market. Even the turbulence on the Japanese currency and stock market, triggered by the Japanese central bank's interest rate turnaround, was quickly overcome. As is so often the case, the stock market high was driven by the strong US markets. The US economy remained in a “Goldilocks” environment for almost the entire year: neither too strong for inflation risks nor so weak that fears of recession arose. This scenario, which is particularly appreciated on the stock market, increased risk appetite on Wall Street. In addition, all major central banks, with the exception of the Bank of Japan, eased their monetary policy, thus improving the global interest rate environment. Last but not least, the AI hype drove profit growth for many companies and at the same time fueled expectations of future profit increases in the coming years and decades. The latter is particularly important for market participants, as it is well known that the future is priced into the stock market.

High valuations call for caution

Despite the positive mood on the markets, risks should not be overlooked. Current share prices are significantly higher than corporate profits by historical standards and are also unusually high in relation to the bond markets. In addition, geopolitical risks remain difficult to calculate, particularly due to possible escalations in the Middle East and the growing tensions between nuclear-armed North Korea and South Korea.

Focus on US elections

The upcoming US presidential elections could cause short-term market fluctuations. Two scenarios are likely: a victory for Donald Trump with a narrow Republican majority in Congress or an election victory for Kamala Harris without a Democratic majority in Congress. Neither scenario would have a lasting negative impact on the markets. In the case of Trump, a deregulation and tax-cutting policy could follow, while Harris would be restricted due to a lack of support in Congress. In both cases, the US government deficit would remain high, which would mean higher US market interest rates in the future. A less likely risk scenario, in which Trump wins but does not have a majority in Congress, would lead to a protectionist trade policy and put a strain on export-dependent markets such as China and the EU in particular.


About Dr. Eduard Baitinger

Dr. Eduard Baitinger has been Head of Asset Allocation at FERI AG since 2015. Under the overall responsibility of the CIO of the FERI Group, Dr. Marcel V. Lähn, Dr. Baitinger is responsible for quantitative asset allocation in the CIO Office and various publications on the assessment of the international financial markets.

Before joining FERI, Dr. Baitinger was a research assistant at the University of Bremen and a financial analyst at an asset manager. In 2010, he completed his studies at the University of Bremen with a degree in economics, accompanied by a stay abroad in New York. In 2014, Eduard Baitinger completed his doctorate with distinction on new approaches to quantitative asset management. Dr. Baitinger publishes regularly in academic journals and acts as an academic reviewer.

About FERI

The FERI Group, headquartered in Bad Homburg, Germany, was founded in 1987 and has developed into one of the leading multi-asset investment houses in the German-speaking region. FERI offers tailor-made solutions for institutional investors, family assets and foundations in the business areas:

Founded in 2016, the FERI Cognitive Finance Institute acts as a strategic research center and creative think tank within the FERI Group, with a clear focus on innovative analyses and method development for long-term aspects of economic and capital market research.

Together with MLP, FERI currently manages assets of around EUR 60 billion, including around EUR 18 billion in alternative investments. In addition to its headquarters in Bad Homburg, the FERI Group also has offices in Dusseldorf, Hamburg, Hannover, Munich, Luxembourg, Vienna and Zurich.



Media relations contact

Marcel Renné

Chairman of the Board & CEO

Rathausplatz 8-10

D-61348 Bad Homburg

Dr. Eduard Baitinger