Who we are
Vescore is the quantitative investment boutique of Vontobel Asset Management with offices in Zurich and Munich.
We are pioneers in the active management of risk premia in the areas of multi-asset, equity, fixed income and commodities. Founded in 1998 at the University of St. Gallen, Vescore was acquired by Vontobel Asset Management in 2016. We currently manage CHF 10 billion in assets* and primarily service large institutional investors including pension funds, insurances, endowments, banks as well as central banks.
"We have been transforming innovations in financial market research into sustainable investor results for 20 years."Dr. Peter Oertmann, Vice Chairman Vontobel Asset Management
Attractive risk-adjusted returns and rigorous risk management
Our ambition is to harvest intelligently selected risk premia across a variety of asset classes with the goal of delivering above-market risk-adjusted returns. To that end we employ systematic approaches to investing that are purely quantitative in nature. Our investment strategies are firmly rooted in empirically proven concepts of financial markets theory. Sophisticated risk-management tools are a central component of each investment process while the use of liquid instruments enables a cost-efficient execution of our strategies.
Sound academic foundation and dedication to research
Through our close ties to academia, we have a long legacy of market-leading innovation in the field of quantitative investments. The majority of our investment professionals are pioneering thinkers who have come together from a wide range of fields such as quantitative finance, engineering, mathematics, and computer science. They strive on academic excellence and are committed to further developing our investment strategies through an unrelenting dedication to scientific research on financial markets.
Client customization through cutting-edge technology
We run our quantitative investment strategies through a network of sophisticated computerized engines that make up our state-of-the-art technological architecture. Our quantitative investment programs are carefully engineered by our highly talented investment professionals. We possess the processing capacity needed to run our algorithms smoothly and efficiently for our clients. We are able to trade, execute and deliver seamlessly. This technology allows our employees to develop, implement and share their ideas. It also serves us well in matching our clients’ needs with highly customized risk/return profiles.
bn EUR in total assets under management
years since founding
Headquartered in Zurich, Switzerland
*as of September 22, 2017
Meet the team
For close to 20 years, we have evolved and grown in lockstep with research on quantitative investing. We have always put our findings at the service of our investors by creating compelling investment solutions. We have our origins in the University of St. Gallen, one of the leading universities in Switzerland committed to advancing financial markets research.
Foundation of Vescore
Vescore is founded by Dr. Peter Oertmann and Prof. Dr. Heinz Zimmermann at the University of St. Gallen (HSG), Switzerland.
Equity allocation expertise
Vescore's founders develop the equity allocation model GLOCAP. The model defines the optimal equity allocation in a portfolio on the basis of a multi-factor model which measures the prevailing economic expectations of market participants.
Active duration management
Vescore develops yield curve models that allow for systematically managing the term structure of a bond portfolio.
Global factor investing expertise
Vescore's expertise in global factor investing goes back to the launch of global active indexing strategies based on country indices by Wegelin Asset Management which is to become part of Vescore in a merger transaction in 2015.
Inception of the first investment fund
Vescore launches its first investment fund GLOCAP HAIG Active Beta (now: Vontobel Fund II Vescore Active Beta)
Commodity risk premia management
Vescore creates commodity strategies providing signals for long or short positioning in the term structure curves of the respective commodities futures. In addition, Vescore is the 'first mover' in the conception and provision of rule-based, conditional commodity indices: the CYD index family.
Vescore becomes a multi-asset manager
Vescore's investment platform is redesigned so as to form modules for flexible combination in portfolio construction. This lays the foundation for what would become Vescore's core strength: its multi-asset competence.
Multi-asset risk parity concept
Vescore demonstrates expertise in dynamic risk budgeting by launching its first multi-asset risk parity fund (now: Vontobel Fund II - Vescore Global Risk Diversification).
Option risk premia management
Vescore develops strategies that systematically exploit the volatility risk premium in option markets.
The Raiffeisen Group acquires 51% of Vescore
The Raiffeisen Group takes a majority stake in Vescore.
Currency markets risk premia management
Vescore starts harvesting risk premia in currency markets using the predictable dynamics of the value drivers in currency markets.
Mastering smart beta investing
Vescore launches its Switzerland Index series, its first smart beta investment solution.
Vescore is fully integrated into the Raiffeisen Group
The Raiffeisen Group consolidates its asset management units by merging the institutional client businesses of Notenstein La Roche Private Bank Ltd. (formerly Wegelin & Co.), 1741 and Vescore Solutions: The entity is renamed to Vescore Ltd.
Acquisition by Vontobel Asset Management
Swiss Raiffeisen and Vontobel agree to deepen their collaboration in asset management. On June 30, Vontobel acquires Raiffeisen's Asset Management unit Vescore. Vescore becomes the Quantitative Investing Boutique of Vontobel.
Multi Factor Investing
Vescore draws on its long-standing expertise in factor investing and launches the Vescore Equity Switzerland Multi Factor Fund (now: Vontobel Fund (CH) - Vescore Swiss Equity Multi Factor). The fund combines four select factor indices which allows for the harvesting and active management of factor premia in Swiss equity markets.