The Miravest Global Balanced Fund was launched on 27 July 2026 and has generated a modest positive return since inception. This inaugural update outlines the fund’s initial positioning, the rationale behind its construction, and the main factors that influenced performance during its first days of operation.
The portfolio consists of three complementary components: cash and short-term deposits, a core allocation to high-quality Swiss equities, and a broader allocation to leading international companies. A modest position in gold provides an additional source of diversification.
Together, these exposures are designed to balance resilience and long-term growth while preserving the flexibility to deploy capital when attractive investment opportunities arise.
Cash is an active component of the portfolio rather than simply capital awaiting investment. At current interest rates, short-term deposits generate income that helps offset the fund’s operating costs while providing a buffer against market volatility. For a Swiss franc-denominated portfolio, this allocation can perform part of the defensive function traditionally associated with bonds, without committing capital to long-dated securities or assuming significant duration risk.
Since launch, equity selection has contributed positively to performance. Established Swiss companies and international leaders across the technology, healthcare, and consumer sectors have performed well overall.
These gains have been partly offset by the recent strength of the Swiss franc, which has reduced the value of foreign holdings when translated into CHF. Currency fluctuations are an inherent feature of international investing and are assessed in the context of the fund’s long-term investment horizon.
We will continue to monitor foreign-exchange exposure and adjust hedging where appropriate. We are also evaluating opportunities to broaden the Swiss equity allocation as suitable investments emerge. The fund’s modest oil-linked exposure remains under close review as global supply conditions evolve.
The portfolio has been constructed to provide diversification across asset classes, sectors, and geographies. It remains focused on pursuing steady, long-term capital growth through a disciplined approach to investment selection and risk management.
We will continue to keep investors informed as the fund develops and welcome any questions.
Kind regards,
Marc
This update is provided for information purposes only and does not constitute investment advice, an offer, or a personal recommendation. Past performance is not a guide to future results. Prospective investors should review the fund’s full documentation and seek independent advice appropriate to their circumstances before investing.