Who we are

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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

   

Why Vescore

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.

   

Key Facts

10

bn EUR in total assets under management

19

years since founding

33

employees

 

Headquartered in Zurich, Switzerland

 

*as of September 22, 2017

   

Meet the team

Dr. Daniel Seiler

Dr. Daniel Seiler

Head of Vescore

Dr. Peter Oertmann

Dr. Peter Oertmann

Vice Chairman Vontobel Asset Management

Stephan Schneider

Stephan Schneider

Head Portfolio Management Vescore

Daniel Schild

Daniel Schild

Head Computation

Markus Becker

Markus Becker

Sales & Client Service

Manuel Egger

Manuel Egger

Sales & Client Service

Franziska Kirner

Franziska Kirner

Sales & Client Service

Anja Nieberding

Anja Nieberding

Sales & Client Service

Julien Godat

Julien Godat

Senior Relationship Manager

Reto Lichtensteiger

Reto Lichtensteiger

Deputy Head of Institutional Clients Switzerland

   

Our Milestones

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.

   

  • 1998

    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.

  • 1999

    Active duration management

    Vescore develops yield curve models that allow for systematically managing the term structure of a bond portfolio.

  • 2001

    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.

  • 2002

    Inception of the first investment fund

    Vescore launches its first investment fund GLOCAP HAIG Active Beta (now: Vontobel Fund II Vescore Active Beta)

  • 2006

    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.

  • 2008

    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.

  • 2009

    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.

  • 2013

    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.

  • 2015

    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.

  • 2016

    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.