René Nicolodi: «Active Asset Management Creates Added Value»
Achieving long-term outperformance in a stock market increasingly driven by shortterm gains – this is what our active, sustainable, and global equity strategy has impressively accomplished. Funds based on this strategy rank among the best in their field in a highly regarded Citywire ranking. René Nicolodi, Head of Equities in Asset Management, reveals the key ingredients of this success.
Interview with Dr René Nicolodi
René Nicolodi, Citywire has named the flagship of our active equity strategies, the Swisscanto (CH) Equity Fund Sustainable International, as one of the best in its field over a ten-year period. Has the Asset Management team already celebrated this achievement?
René Nicolodi: The experienced portfolio management and research team led by Gerhard Wagner and Philipp Mettler would have preferred to quietly continue their work. But we will certainly celebrate this achievement appropriately – it’s a success story to be proud of. Surpassing the market with such consistency over ten years and outperforming nearly 300 comparable strategies is not only an extraordinary accomplishment. It also confirms that active asset management with a focus on sustainability as a growth driver and on quality works. Most importantly, it demonstrates that we create long-term added value for our clients. The Swisscanto (CH) Equity Fund Sustainable International, designed for qualified investors, has achieved the top spot in the Citywire ranking.
What does the specific track record look like?
Since the end of May 2016, the fund has delivered an average gross annual performance of 13.74%, outperforming the global equity index MSCI World by 2.72 percentage points annually. The Swisscanto (CH) Equity Fund Sustainable, tailored for retail investors, also ranks among the top 5% of global equity funds according to the ranking. However, it’s important to note that past performance does not directly predict future fund performance.
Sustainability investments are currently facing political headwinds. Why are such investments still performing well?
The political environment certainly plays a role. However, the consistent focus on growth drivers structurally linked to sustainability is crucial for long-term investment success, independent of political debates. Recently, sustainable investments have also received a short-term boost due to geopolitical tensions and the resulting shocks in oil and gas markets.
What opportunities do the energy transition and electrification offer to investors?
Companies benefiting from the energy transition through electrification have often significantly outperformed the market, sometimes in combination with artificial intelligence (AI) as a catalyst. In the long term, achieving a successful energy transition amid rising electricity demand remains crucial – not only to address the risks of climate change but also to enhance energy security across value chains. Recent heatwaves, water shortages, and supply shocks in oil and natural gas remind us that these risks to the economy and society remain unchanged.
How is the investment strategy positioned for the future?
The strategy continues to focus on five sustainable and long-term investment themes: climate and energy transition, healthy longevity, the digital economy, the circular economy, and water conservation. All these themes address challenges facing humanity and the environment. As a result, they benefit from structural demand and above-average growth potential.
Which megatrend stands out the most?
Currently, we see the trend towards electrification as particularly promising, driven in part by the significant electricity demand of artificial intelligence (AI). While AI is still a controversial topic due to its high energy consumption, it could increasingly contribute to more efficient energy use in the future. Meanwhile, the longevity theme, with its defensive characteristics, offers a complementary balance to the rapid growth in the AI sector. Throughout, our portfolio management remains focused on quality to outperform the broader market in the long run. This means only companies with attractive capital returns, solid business models, and convincing management make it into our selection.
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The investment opinions and assessments of securities and/or issuers contained in this document have not been prepared in accordance with the rules on the independence of financial analysts and therefore constitute marketing communications (and not independent financial analysis). In particular, the employees responsible for such opinions and assessments are not necessarily subject to restrictions on trading in the relevant securities and may in principle conduct their own transactions or transactions for Zürcher Kantonalbank in these securities.
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In terms of any sustainability information, please note that there is no generally accepted framework or list of factors in Switzerland that has to be considered in order to ensure the sustainability of investments.
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This document only serves advertising and information purposes and is not directed at persons in whose nationality or place of residence prohibit access to such information under applicable law. Where not indicated otherwise, the information concerns the collective investment schemes under the law of Luxembourg managed by Swisscanto Asset Management International S.A. (hereinafter "Swisscanto Funds"). The products described are undertakings for collective investment in transferable securities (UCITS) within the meaning of EU Directive 2009/65/EC, which are governed by Luxembourg law and subject to the supervision of the Luxembourg supervisory authority (CSSF).
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The investment involves risks, in particular those of fluctuations in value and earnings. Investments in foreign currencies are subject to exchange rate fluctuations. Past performance is neither an indicator nor a guarantee of future success. The risks are described in the sales prospectus and in the PRIIP KID.
The information contained in this document has been compiled with the greatest care. Despite professional procedures, the correctness, completeness and topicality of the information cannot be guaranteed. Any liability for investments based on this document will be rejected.
The opinions and assessments contained in this document regarding securities and/or issuers have not been prepared in accordance with the regulations governing the independence of financial analysts and therefore constitute marketing communications (and not independent financial analyses). In particular, the employees responsible for such opinions and assessments are not necessarily subject to restrictions on trading the relevant securities and may, in principle, conduct their own transactions in these securities.
The document does not release the recipient from his or her own judgment. In particular, the recipient is recommended to check the information for compatibility with his or her personal circumstances as well as for legal, tax and other consequences, if necessary, with the help of an advisor. The prospectus and PRIIP KID should be read before making any final investment decision.
An overview of investors' rights is available at swisscanto.com/int/en/legal/summary-of-investor-rights.html.
The products described in this document are not available to U.S. persons under the relevant regulations (in particular Regulation S under the U.S. Securities Act of 1933). Data as at (where not stated otherwise): 03.2025
© 2026 Swisscanto Asset Management International S.A. All rights reserved
