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FERI (Schweiz) offers clients a range of advisory services and individual investment solutions to give them clarity as to how compatible their investments are with the United Nations sustainable development goals and increase their understanding of this at the different levels of the investment process.

FERI (Schweiz) has a unique expertise in asset management and advisory services for discerning clients. The sustainable quality concept is based on the quality investing approach, in which financially sound companies are identified through targeted selection on the basis of various quality characteristics.

Artificial intelligence (AI), the Internet of Things (IoT) and 5G – exponential technologies will trigger a wave of transformation in society and the environment in the coming decades. FERI (Schweiz) offers the opportunity to actively participate in these developments and to invest in an innovative concept.

FERI (Schweiz) offers its clients customised solutions and individual investment strategies. Our particular strength lies in mandates with special risk-return targets, which we define individually with our clients

FERI (Schweiz) offers clients a range of advisory services and individual investment solutions to give them clarity as to how compatible their investments are with the United Nations Sustainable Development Goals (SDG) and increase their understanding of this at the different levels of the investment process.

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Markets Update November 2021 - Global equity markets on a sentiment high

Bad Homburg, 11/15/2021
by Dr. Eduard Baitinger, FERI
  • US infrastructure pact drives stock markets worldwide
  • FED communication of monetary policy turnaround provides clarity
  • Equity year 2022 with increased risks of disappointment

After a temporarily weaker phase, market sentiment has recently improved significantly. After the US Congress passed the Democrats' infrastructure package, which provides for up to USD 550 billion in new investments, prices on the global stock markets reached new record highs in some cases. Unchanged solid corporate profits and the prospects of a year-end rally gave the markets an additional boost. Finally, investors also rewarded the successful communication of the turnaround in monetary policy by the US Federal Reserve. Although the monetary support of the markets will diminish in the long term with the gradual reduction of the bond-buying programme, there is at least clarity on this important issue. Another factor contributing to the positive trend on the stock markets is the fact that the multi-billion investment program is only partially financed. As the past few weeks have shown, there are no majorities in Congress for far-reaching tax increases. In the short term, companies and consumers in the US will thus be spared higher tax expenditures, and the bottom line is that the economy will benefit. But in the longer term, the new creed of deficit spending is likely to damage the US dollar and the US's credit rating.

Stumbling blocks lurk in the new year

Despite the current positive trend, investors will face tougher days next year. The stock market highs of recent weeks and months were driven by relatively few stocks. This low market breadth makes the stock markets more susceptible to bad news overall. Headwinds are threatening from several directions. Following the FED's turnaround in monetary policy, the equity markets will be confronted with a throttling of liquidity in the coming months and rising key interest rates later in the year. Disappointments also lurk in earnings growth. Although the global economy is expected to pick up in 2022 after the Covid-19 pandemic is largely over, providing companies with solid revenue growth, the pressure on margins is increasing tremendously due to higher wage demands and rising commodity prices. The overall 2022 scenario thus argues for a distinctly bipolar equity market. On the winning side are a few stocks and sectors that either benefit from an inflationary environment and higher interest rates or exhibit pronounced pricing power. The losers, on the other hand, will be those companies that do not have significant pricing power and are threatened by rising interest rates.


About Dr. Eduard Baitinger

Dr. Eduard Baitinger has been Head of Asset Allocation in the FERI Group since 2015. He is responsible for quantitative asset allocation at FERI Trust, where he also manages and coordinates numerous research projects. In close coordination with the FERI Board of Directors and Chief Investment Officer, Dr. Heinz-Werner Rapp, he also represents the investment strategy of the FERI Group and its communication to clients and customers of FERI.

Before joining FERI, he was a research assistant at the University of Bremen and financial analyst for an asset manager. In 2010 he completed his studies at the University of Bremen, accompanied by a stay abroad in New York, as a graduate economist. In 2014, Eduard Baitinger received his doctorate with distinction on new approaches to quantitative asset management. Dr. Baitinger publishes regularly in academic journals and acts as academic reviewer.


About FERI

Founded in 1987 and headquartered in Bad Homburg, Germany, the FERI Group has developed into one of the leading investment houses in the German-speaking area. FERI offers tailor-made solutions for institutional investors, family assets and trusts in the following areas:  

The FERI Cognitive Finance Institute was formed in 2016. It is the strategic research centre and creative think tank of the FERI Group. The Institute focuses on innovative analyses and the development of methods for long-term oriented economic and capital market research. 

FERI and MLP currently manage assets of about EUR 53 billion in the Group, including EUR 13 billion in alternative investments. The FERI Group is headquartered in Bad Homburg and has locations in Dusseldorf, Hamburg, Luxembourg, Munich, Vienna and Zurich.



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D-61348 Bad Homburg

Dr. Eduard Baitinger
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T +49 (0) 6172 916-3192
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presse@feri.de

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Katja Liese
Member of the Management Board
Head of Press & Communications

T +49 (0) 6172 916-3192
F +49 (0) 6172 916-1192
presse@feri.de

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Rathausplatz 8-10
D-61348 Bad Homburg

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