BONHÔTE — Swiss Equity Momentum
The Bonhôte Swiss Equity Momentum fund offers exposure to Swiss equities through an active and quantitative management approach applied to the entire Swiss equity market (large, mid and small caps), as represented by the Swiss Performance Index (SPI®) universe.
BONHÔTE – Swiss Equity Momentum
The fund is aimed at investors seeking:
- broad and diversified exposure to the Swiss equity market
- an alternative to purely passive management
- structured active management that aims to outperform the market over the medium and long term, while seeking to limit tracking error relative to the Swiss equity market (SPI®).
Investment objective
The fund aims to deliver outperformance over the medium and long term relative to the Swiss equity market, as represented by the SPI® benchmark index.
Investment approach
The strategy is based on a systematic and quantitative approach, combining:
- a primary factor: momentum
- complementary factors: fundamentals, social and governance (S&G).
Index constituents are overweighted, underweighted or excluded based on signals generated by the quantitative model.
The objective is to identify companies with:
- favourable share price momentum
- a solid balance sheet
- effective governance and human capital management
A multi-dimensional approach
Combining momentum, fundamentals and S&G criteria
Investment process
Fund benefits
Comprehensive exposure to Swiss equity market
Access to the entire Swiss market, including large, mid and small caps.
Structured active management
An alternative to passive management, based on clear rules.
Robust multi-dimensional approach
Combining momentum, fundamental analysis and social and governance criteria.
Transparency and discipline
Clear, structured and proven quantitative process.
The role of Swiss equities in an investment portfolio
Swiss equities form the cornerstone of a long-term equity allocation.
They offer a combination of stability and quality. Robust balance sheets, respected governance and a tremendous capacity for innovation are the hallmarks of Swiss companies, with a significant portion of their revenue generated abroad.
As part of a diversified portfolio, Swiss equities bring defensive and resilient qualities, while providing full exposure to global economic growth.
Factor investing an alternative approach to analysing equity markets
Factor investing is based on a simple, well-documented principle: additional returns can be captured by systematically investing in a range of securities sharing specific common characteristics, known as “factors”.
The factor-based approach involves systematically investing in companies sharing similar attributes, such as their size, valuation or the quality of their fundamentals.
One of the primary strengths of this approach lies in its empirical foundation. These factors have been repeatedly observed over extended periods and across various markets, which means they are underpinned by robust academic and historical evidence.
Another core component is discipline. Investment decisions can be influenced by emotions, recent experiences or personal convictions. A factor-based strategy, by contrast, applies predefined rules consistently and transparently. This methodology ensures that decisions are anchored in objective and measurable criteria.
The momentum factor allows for capitalising on price dynamics
Financial markets are not perfectly efficient.
Extensive academic research demonstrates that securities with strong recent performance tend to sustain this trajectory over a given period. This phenomenon is known as “momentum”, and is driven by several mechanisms:
- Investors tend to take positions in rapid gainers for fear of missing out on an opportunity.
- Institutional investors regularly adjust their port folios to reflect the growing weight of outperforming securities within benchmark indices.
- Analysts gradually revise their price targets upwards as market prices rise.
Momentum is currently one of the most extensively researched and widely utilised investment factors among institutional investors.
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Investment funds
We apply the same values in developing and managing investment funds as we do in all our endeavours. The freedom to reflect and to act, inherent in our status as an independent bank, enables us to actively seek new investment themes and to develop them rapidly – often away from the crowd.
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