Reichmuth Pilatus
Successful thanks to innovation and value culture?
With Reichmuth Pilatus, we have been investing in innovative Swiss small companies for almost 25 years – a true success story. In this video you can see how we got there, on what we put emphasize on with respect to stock selection and how we generally manage this particular portfolio.
«The ‘human’ factor plays a central role in the selection of stocks; this is true for the company’s management, its board of directors and other stakeholders.»
Research, Head of Investment Policy
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News
Market commentary 2nd quarter 2026
The war in Iran is now in its fourth week. Despite initial, tentative signs of de-escalation, the conflict persists and is likely to have significant geopolitical and economic consequences. We recommend investing selectively in structural growth themes that are gaining additional momentum as a result of the conflict.
„Sell-off“ in the technology sector supports cyclical market segments
The apparent calm on the stock markets is deceptive. Although the global stock market recorded a slight increase in February, the US stock market was once again downgraded relative to Europe and emerging markets. At the same time, the rotation away from highly valued technology stocks toward cyclical value stocks and defensive sectors such as healthcare and consumer staples continued.
After the AI Boom: Broadening the portfolio
About a quarter of global economic growth of 2.3 percent in 2025 was driven by heavy investment in the expansion of AI infrastructure. As a result, AI served as a central pillar of an economy that was robust overall, but below its long-term average growth rate.