Mirabaud Swiss Dividend Strategy

A reliable source of income and growth in a low-rate world.

With Swiss interest rates back at 0% – and bond yields offering little to no real returns – the structural challenge for investors today lies increasingly in the fixed income portion of their portfolios. Traditional low-risk assets are no longer fulfilling their historic role of preserving purchasing power or delivering stable income.

A dividend strategy can offer Swiss investors:

An attractive risk/reward profile due to lower downside risk.
Above-average income generation.
Capital gains due to compounding characteristics of the holdings.

Mirabaud Swiss Dividend draws on decades of local expertise to deliver a strategy built to compound wealth while preserving capital.

Swiss microclimate fosters a strong culture of innovation which often drives companies to evolve into high-quality, long-term value creators with global leadership in niche markets.
Dividend stocks tilted towards more mature businesses, generating free cash flow for distribution to shareholders.
A stable and transparent dividend policy reflects good governance and aligns with shareholder interests.

We believe in patience, discipline, and sustainable growth.

We follow a disciplined, bottom-up investment approach rooted in a deep understanding of each company. The team focuses on identifying high-quality businesses with sustainable, profitable growth (compounders), where share price appreciation is driven by long-term earnings growth.

Key to this philosophy is a strong emphasis on return on capital employed (ROCE) and a business-owner mindset. With patience and conviction, we filter out market noise and invests with a long-term investment horizon.

Portfolio characteristics

BEST-IDEAS PORTFOLIO	High-conviction alpha generation. We target 25-40 stocks, focusing predominantly on blue chips.
ATTRACTIVE DIVIDEND YIELD	The portfolio offers a higher dividend yield than the benchmark SPI.
QUALITY COMPOUNDERS	We look for sustainable profitable growth at a reasonable price.
INCOME + CAPITAL GROWTH	Focus on companies that offer attractive dividend yields and demonstrate potential for steady dividend and solid capital growth over the long term.
DESIGNED TO GENERATE OUTPERFORMANCE	Attractive risk/reward by combining quality, income and growth elements: compounders to maximise upside capture; quality income to reduce downside capture.
SPECIALIST, PROVEN TEAM	Extensive experience and insight in Swiss equity investments - 23 years average industry tenure with unique network and knowledge base.

Strategy resources

Portfolio managers

Daniele Scilingo

Daniele is Head of Swiss Equities at Mirabaud Asset Management, having joined in 2020. He previously founded Nanos Investment AG (2017), advising family offices and high-net-worth individuals on concentrated Swiss quality portfolios. With three decades’ investment experience, he spent 15 years at Pictet Asset Management in Zurich and London – building the Swiss equities franchise in Zurich and later broadening into European and global equities and international business management. Earlier, he spent a decade at Vontobel as a sell-side analyst covering Swiss equities. Daniele is a CFA charterholder.

Thomas Jäger

Thomas joined Mirabaud Asset Management in 2017 as Senior Portfolio Manager. Previously at St.Galler Kantonalbank, he worked as an equity buy-side analyst and manager of the Swiss equity fund SGKB Aktien Schweiz, and earlier managed mixed-asset mandates. He studied General Management at the University of Applied Sciences in St. Gallen and holds the CIIA and the Swiss Financial Planner professional licence.

Jan Widmer

Jan joined Mirabaud Asset Management in 2022 and brings over 20 years’ experience in financial services. Prior to Mirabaud, he spent a decade at St.Galler Kantonalbank, where he managed the Swiss equity fund from 2017. He holds a Master of Advanced Studies in Corporate Finance and Banking from ZHAW and is a Certified International Investment Analyst (CIIA).