After falling towards the end of March towards 10,400 points, the Swiss SMI index (the reference benchmark for the Swiss stock market) made a quick recovery that was halted near the solid graphical barrier set at 11,600 points.
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In recent weeks, prices have been consolidating sideways near the important psychological threshold of 11,000 points without providing any particular operational cues.
The short-term technical picture therefore appears contrasted: a new demonstration of strength will come with a return above 11,450 points even if, from a graphical point of view, only the breakout of 11,600 points could provide a new bullish signal of a directional type and open up interesting areas of growth.
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Dangerous instead is the collapse of the support placed at 10,750 points, even if only a descent below 10,400 points would provoke a bearish trend reversal.
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The following ETFs can be used to invest in the Swiss SMI stock market:
Xtrackers SLI, ISIN LU0322248146. It is an ETF that replicates the performance of the 30 largest and most liquid equities in the Swiss equity market, has €212m in assets under management, provides for physical replication of the underlying and has a distribution policy (with dividends being distributed annually to investors). The total expense ratio (TER) is 0.25% per annum.
Amundi MSCI Switzerland, ISIN LU1681044993. This is an ETF that replicates the performance of the MSCI Switzerland index, has €164m in assets under management, synthetically replicates the underlying (via a swap) and adopts an accumulation policy (with dividends being reinvested within the fund). The total expense ratio (TER) is 0.25% per annum.
UBS MSCI Switzerland 20/35, ISIN LU0977261329. It is an ETF that replicates the performance of the MSCI Switzerland index with the 20/35 rule. The latter limits the weighting of the largest company to 35% and all others to a maximum of 20%. The ETF has assets under management of EUR 1,311m, which provides for the physical replication of the underlying and which adopts an accumulation policy (with dividends being reinvested within the fund). The total expense ratio (TER) is 0.20% per annum.
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Reproduction prohibited in any form, even partial
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