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Everyone is an investor. Whether it’s time, money or attention that you devote; every day you put your capital to work with a goal in mind. That’s investing. And that’s what we do at Vontobel. We focus on helping people put their financial capital to work.
The new year has just begun and markets are already roaring. Gold and equities are trading at record highs, the VIX remains low and macroeconomic conditions appear broadly supportive, even as geopolitical noise remains. We are seeing a wave of stimulus—whether monetary easing, widespread fiscal support across the Eurozone, Japan and China, capital expenditure in artificial intelligence (AI)—that is generally positive for risk assets. While geopolitical volatility can be unsettling, it has historically tended not to have persistent long-term negative effects on asset-price returns. Recent events in Venezuela and Greenland, for example, had little market impact. As we move further into 2026, we aim to help our clients filter out the noise.
Investment Insights – Latest market moves and their potential impacts
During 2025 the global economy showed resilience and as we enter 2026 we see support on a global level both from the fiscal and the monetary policy side. In some regions this is more pronounced than in other regions, based on the ability and need for stimulus. This positive policy momentum can be supportive for growth, as we also expect that AI, for instance via increased capital expenditure, can be a positive growth driver in 2026. Fiscal differences are increasing and debt sustainability can also potentially influence the attractiveness of currencies.
As we try to turn the page of 2025, it is hard not to look back before looking into the New Year that is 2026. In fact, 2025 really was about not being able to turn the page: on AI, equity valuations, bubbles, gold, rate decisions, even inflation as each conclusion seemed likely to be called into question by the markets’ next move/s. Were the equity markets’ moves and reactions based on resilience or disinterest even uninterest – regardless that was a year or a classic battle between ex ante and ex post and on which we are now turning the page.
Coming into the New Year with growth supported by budgeted fiscal and expected monetary stimulus albeit tempered with geopolitical and economic uncertainties, we consistently seek opportunities and try to identify risks and continue to be broadly diversified to address both aspects effectively.
At Vontobel, we actively shape the future. We create and pursue opportunities with determination. We master what we do – and we only do what we master. This is how we get our clients ahead.
At Vontobel, we actively shape the future. We create and pursue opportunities with determination. We master what we do – and we only do what we master. This is how we get our clients ahead.
| Ad hoc announcement pursuant to Art. 53 LR | Media release
Vontobel achieves successful 2025, with strong financial results, significant strategic progress and the renewal of the shareholder agreement
2025 was a successful year for Vontobel despite the dual headwinds of lower interest rates and a weaker US dollar. We increased our top-line and reduced our cost base, while continuing to invest substantially in growth areas. We attracted net new money across key segments and achieved a top-quartile position in institutional fund flows. We also advanced with discipline and focus on our strategic priorities, creating the right conditions for future growth.
