The Swiss benchmark index SMI: change in the Premier class

The Swiss counterpart to the Dax in Germany, the SMI is. The acronym stands for Swiss Market Index. In this leading index of the 20 most liquid and largest titl

The Swiss benchmark index SMI: change in the Premier class

The Swiss counterpart to the Dax in Germany, the SMI is. The acronym stands for Swiss Market Index. In this leading index of the 20 most liquid and largest title from the Swiss stock exchange world gathered. Frequent changes there is not in this king's class. But in the 21st century. September it is again so far: the personnel service provider Adecco must make space for the Private Equity house Partners Group. Crucial for the inclusion in the SMI is the average market capitalisation and trading turnover of the candidates. And here are the developments of Adecco and partner Group could not be more different.

John knight

a correspondent for politics and business in Switzerland.

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Adecco is the Corona-crisis hard hit. Fixed-term employment contracts will be terminated First of all, when companies suffer a downturn. Sales slumped in the first half of the year 2020, 29 percent down. Since the beginning of the year the stock price fell by a quarter to EUR 45.60 francs. This results in a stock exchange calculated value of close to 7.5 billion Swiss francs.

Partners Group, however, is today worth approximately as much as at the beginning of the year and brings to 24 billion Swiss francs on the exchange balance. With the rise in the highest Swiss stock exchange League, the company is the culmination of a success story, which began with the establishment in the year 1996. The group, based in the low-tax Canton of Zug invests in Unlisted companies and in real estate and infrastructure projects around the world. It manages assets of around 96 billion dollars.

Also, Logitech is a winner in the Crisis

While the Corona of crisis is also the business with private-market investments more difficult. Because it is not so easy to find good investment objects. And the originally targeted proceeds from the sale of existing equity investments could be lower. On the other hand, the entry-level prices in the current Phase are more favorable. Customers and investors, the Partners Group to push at least as much fresh capital. The sharp price fall in March, have recovered the title in the meantime to a large extent. In the past three months increased by 20 percent. This is also the message from the upcoming rise should have in the SMI added. Because all of those Fund managers, which cover only a (control)the Index must buy shares of Partners Group and Adecco-title push.

The SMI has a large part of the loss, the Corona-crisis in March has caused the offset. With well-10.210 points, the stock market barometer is currently far from the level from the beginning of the year removed. Behind the large differences in the performance of the individual companies to hide, of course. The biggest loser is the Swiss Re is. The second largest reinsurer in the world has lost since the beginning of the year, more than a third of its value. The damage and provisions in connection with the Corona-pandemic amounted so far to $ 2.5 billion and drove to Swiss Re at half-time deep in the red. The Swiss fared worse than the industry leader Munich Re, what is suggested to the investors in addition to the stomach. The life insurer Swiss Life has come as a result of Corona proficient under the wheels: The stock price declined during the year by more than 30 percent.

Among banks, Credit Suisse (CS) with a price decline of around 23 percent of the red lantern. Although the Figures for the second quarter were better than many expected. But investors setback scenting danger, with a view to possible failures in the lending business, for which no Provision has been formed.

Updated Date: 12 August 2020, 09:19

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