Quality and growth remain key priorities
Despite political hotspots and ongoing uncertainties regarding tariffs, the economy and government debt, the financial markets proved to be remarkably robust in the first half of 2025. Colin&Cie's business model as well as its investors' mandates also proved resilient. Thomas Warnecke, CEO of Colin&Cie, looks back.
Review of the first half of 2025 - Financial markets
The 2025 stock market year began with significant gains on European stock markets and a further rise in the price of gold. At the beginning of April, however, the financial markets came under severe pressure because of US President Donald Trump's tariff policy. Despite a rapid recovery, confidence in the US remained low, leading to a double-digit percentage depreciation of the US dollar against the euro and Swiss franc. Inflation continued its downward trend. While the European Central Bank and the Swiss National Bank responded with further interest rate cuts, the US Federal Reserve left its key interest rate unchanged. Falling long-term interest rates in Europe led to price gains for euro bonds. In summary, it can be said that all asset classes were able to further increase their gains in the challenging market environment of the first half of 2025.
Review of the first half of 2025 - Colin&Cie mandates
By the end of the second quarter of 2025, bonds, equities and alternative investments – each valued in local currency – had achieved positive performance that was roughly in line with their historical average returns. However, in mandates with euro or Swiss franc reference currencies, this result was significantly reduced by negative currency effects due to the weakness of the US dollar. Although a significant portion of the assets are held in the reference currency chosen by the client, investments in US dollars are a central component of Colin&Cie's investment strategy for diversification reasons.
Review of the first half of 2025 - Colin&Cie Group
To consolidate its position as one of the leading independent asset managers in Switzerland and Luxembourg, Colin&Cie continued to pursue its ambitious quality and growth strategy in the first half of 2025. To this end, we made targeted investments in skilled personnel, expertise and modern systems.
An important element of our quality initiative was the establishment of the Centre of Competence. By combining the areas of wealth planning, investment office, communications and event management in a new organisational unit, we are creating targeted synergies and strengthening both the further development of our advisory and investment process and our brand visibility. The projects implemented as part of the Centre of Competence focus on continuously improving the efficiency of operational processes, evaluating additional cooperation partners and custodian banks, expanding the capacities of the Investment Committee and making organisational additions in the areas of investment advice and market development. Our clear goal is to noticeably and permanently improve the quality of advice, investment and service for our customers.
To secure our independence from banks and external investors, it goes without saying that we finance our desired quality expansion through organic growth. In the first half of 2025, the inflow of new capital from existing and new client business (net new money: 5%) was again a key growth driver, supported by active market development and the addition of four new client advisors in Zurich, Schaffhausen and Luxembourg. By recruiting additional wealth management specialists from different generations, we are also strengthening our acquisition and advisory expertise and ensuring that age-related succession planning can be accompanied at an early stage, with foresight and the necessary care. The increase in personnel and material costs compared with the same period last year was more than offset by strong revenue growth.
In May 2025, the new Colin&Cie Wealth Management Magazine was published with the aim of making Colin&Cie even more approachable as an independent asset manager. In the first issue - available for download as a PDF -, readers gain insights into our advisory and investment process, as well as valuable tips on how to avoid typical investment mistakes. Our new magazine and our events invite people to get to know the people behind Colin&Cie and our service promise in person. In this context, we would like to draw your attention to our wealth management conferences in autumn 2025. Under the title “Your assets in times of global polarisation”, visitors can expect an in-depth analysis of the current situation – combined with practical recommendations for forward-looking asset planning.
Finally, we would like to thank our valued customers for their trust in the first half of 2025 and look forward to continuing our successful partnership.
On behalf of the Colin&Cie Group
Thomas Warnecke
Chief Executive Officer & Founder
Disclaimer - legal notice
This publication was produced by the Investment Office of the Colin&Cie Group. The information and opinions contained in this document are based on sources we believe to be reliable. However, we cannot guarantee the reliability, completeness or correctness of these sources. All information and quoted rates are only up-to-date at the time of this publication and are subject to change at any time without notice. The content is based on numerous assumptions made by the Colin & Cie Group. It should be noted that different assumptions can lead to materially different results. The forecasts and assessments are only current at the time this publication is prepared and can change at any time without prior notice. Past performance of an investment is not a guarantee of future results. Certain investments can experience sudden and substantial losses in value. This information and views do not constitute a solicitation, offer or recommendation to buy or sell investment instruments or to carry out any other transactions. We recommend interested investors to consult their personal advisor before making decisions on the basis of this document so that personal investment goals, financial situation, individual needs and risk profile as well as further information can be duly taken into account as part of a comprehensive consultation. The information contained in this publication is marketing material that is distributed for advertising purposes only.
