Tramondo Investment Partners AG – Unter Altstadt 10 – Postfach CH-6302 Zug
Our thoughts and assessments on global markets. Every quarter in your inbox.
Tramondo Investment Partners AG is the investment arm of a multi-family office group that has existed for over 40 years and is an asset manager of collective investment schemes pursuant to the Swiss Financial Market Supervisory Authority (FINMA).
Individual and efficient solutions for demanding customers. Discipline in the investment process. Transparent and fair fees. Long-term partnerships with alignment of interests.
Independent investment decisions. Transparent and liquid strategies with an attractive risk-return profile. A highly disciplined approach to risk.
17th December, 2020
Highlights of the current edition
The announcement of two vaccines against COVID-19 that were highly effective in clinical trials drove a risk-on mood in financial markets and injected additional fuel into the post-election rally. Overall, the MSCI World index was up 11.3% in Q4 2020 so far.
Across the globe, central bankers kept their printing presses busy in Q4 2020. Since COVID-19 and its implications for the world economy will cast shadows for some time to come, we see hardly any evidence that the flood of cheap money might abate in the coming quarters.
Despite the victory of Joseph Biden in the US presidential elections, we expect Washington to be under well-balanced political leadership for some time. Thus, investors are better off not pricing in a mind-blowing stimulus package for the months to come since Republicans will keep a close eye on budget discipline.
While the global economic recovery has been proceeding at a solid pace during the most recent quarter, some signs are slowing down. We believe that the US economy is prone to a slight consolidation in Q4 2020 before it is expected to resume its robust growth trend in early 2021.
We believe that global equities still offer a compelling opportunity set. During the most recent quarter, we increased our exposure towards cyclical stock markets, especially the Eurozone. From a tactical perspective, we nevertheless see some dark clouds building up in equity markets.
Overall, we recommend that investors retain a very cautious attitude toward fixed-income paper. Nevertheless, we still see some opportunities in Emerging Markets bonds where rather supportive fundamentals and supportive valuations have still not synched up again.
In this short video you will learn more about our history, our team, how we think about the markets, and what distinguishes us.
(Subtitles in English and German available)
It’s that easy to get in touch with Tramondo.
You can find our contact details here. Of course, you can also press the “Contact Tramondo now” button below and specify your contact details. We look forward to getting to know you.
Submit your existing investment portfolio to an independent, rigorous and critical reality test. Without any obligation.
Do our thinking and our expertise meet your high standards? Determine which service is right for you. We will be happy to assist you.
Once the contractual and administrative aspects have been completed in a straightforward manner, we can begin implementing your portfolio according to Tramondo standards together.
Your existing investment portfolio is independently, rigorously and critically tested as part of the Tramondo Portfolio Check (TPC).
Tramondo Investment Partners AG
Unter Altstadt 10
Postfach CH-6302 Zug
+41 41 710 76 76
© 2020, Tramondo Investment Partners AG. All rights reserved.
Bitte füllen Sie das untenstehende Formular aus und drücken Sie auf den ‘Senden’ Knopf.
Wir werden umgehend mit Ihnen in Kontakt treten.
Please fill out the form below and press the ‘Submit’ button.
We will contact you shortly.