Tramondo Investment Partners AG – Unter Altstadt 10 – Postfach CH-6302 Zug

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Quarterly Q2 2020

9th April, 2020

Highlights of the current edition

THE BIG PICTURE
COVID-19 brought a swift and sudden reversal to the buoyant investor sentiment that had compelled equities higher at the start of 2020. Liquidity pumped into the financial markets may be supportive for equities and real assets but detrimental for nominal assets.

FOCUS THEMES
We present possible recovery scenarios for the global economy. How the currently reduced market liquidity can be countered with an active management approach focusing on quality and robustness. And a brief explanation of how the recent distortions on the gold market have led to arbitrage opportunities.

ASSET ALLOCATION
We downgraded our view towards risky assets during Q1 2020 as soon as the COVID-19 virus aggressively spread towards Europe and the US. This entailed reducing exposure towards both global equities as well as low-quality credit, and increasing the duration of our fixed income portfolios. We maintain a strategic gold position and would increase exposure in the event of price weakness.

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Tramondo’s take on markets, monetary policy, politics and economics. And resulting investment opportunities that successful individuals, families, and institutional investors need to be aware of today.

About Tramondo

Tramondo Investment Partners AG is a bank-independent Swiss asset manager based in Zug and licensed by the Swiss Financial Market Supervisory Authority (FINMA) to act as an asset manager of collective investment schemes.

Contact

Tramondo Investment Partners AG

Unter Altstadt 10
Postfach CH-6302 Zug

+41 41 710 76 76
+41 41 710 76 78
info@tramondo.ch

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