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Jean-Louis Hanselmann

" I attended your Forum during its entire length, a sign of my interest! Registration procedure was OK. I prefer Q&A sessions at the end of presentations instead of having them in the course of the presentations. During the presentation, questions disrupt the logical flow and they often receive an answer a few slides later on. My favorite presentations were the Carmignac presentation on Global Markets, the Convertibles presentation (a forgotten asset class), the technical charts from Daniel Stillhart, and the Gold presentations by Steffen Orben, Eily Ong and James Withall. Walking around, I found the World Gold Council desk quite interesting. WGC will invite me to their next presentation in Zurich, we will keep in touch. Speakers were experienced professionals from the Investment Research or Portfolio Management side. I enjoyed the absence of hard selling speeches by young customer relationship representatives - often the case with Finance presentations here in Zurich. I congratulate you for having succeeded in putting such a high level of speakers together. As a suggestion, I would add a presentation on stock markets for the next time, especially the developed stock markets. They do not deserve the bad feeling of current investors, in my opinion."
Jean-Louis Hanselmann ( MBA, PhD , Investment committee member of the Swiss Pension Funds of Zurich Financial Services, Zurich )

EDITORIAL

Aktives oder passives - Portfoliomanagem…

Aktives oder passives - Portfoliomanagement?

Aktives oder passivesPortfoliomanagement? John Ventre Portfoliomanager der Skandia Investment Group         John Ventre, Portfoliomanager der Skandia Investment Group ist der Auffassung, dass beide Portfoliostrategien, aktive wie passive, eine Reihe starker Argumente mit sich bringen. In der Praxis gibt immer die persönliche Vorliebe des Portfoliomanagers den Ausschlag bei der Wahl beider Ansätze. Ganz persönlich ist er der Ansicht, dass vor allem das aktive Management Vermögenswerte nachhaltig steigern kann. David F. Swensen, der prominente Manager der Vermögen und Finanzanlagen der amerikanischen Yale University, führt sechs Gründe an, warum er den passiven Ansatz bevorzugt: Einfachheit Managementqualität Niedrige Portfolio-Umschlagsrate (PTR) Niedrige Betriebskosten Kapazität Wertentwicklung Swensens Argumente scheinen zunächst einleuchtend. Andererseits ist es auch...

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