mtx

Investing in leading businesses with high and growing profitability in emerging markets.

How we can help you

Our research leads us to believe that leaders tend to remain leaders, also in terms of share-price performance.

We focus on leading companies with high growth potential due to reinvestments made possible by high returns on invested capital (ROIC) and strong competitive positions. Market participants are often slow to acknowledge high ROICs, which we consider an important share price driver. This failure on the part of the market creates opportunities for high conviction, active stock pickers like us.

To be included in our portfolios, a company needs to be in the first quartile in terms of ROIC and industry position, trade at a discount to its intrinsic value, and fulfill our minimum ESG standards. These four factors form the cornerstones of our “matrix”, or mtx, approach.

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As fundamental equity managers, we use a combination of systematic screens and fundamental analysis before making an investment decision. We use a proprietary ESG scoring model to investigate each company in depth and understand the risks associated with their business model.

11.8 bn 21 18 2012

Why partner with us?

Unique combination of systematic screens and fundamental research

This ensures style-consistent investment results and potential outperformance through the market cycle.

Strong focus on valuation

The entry point significantly determines the investment’s rate of return in the medium-term.

ESG improves risk management and enhances performance

This view is supported by latest academic research and our own performance data.

Meet the team

Our two portfolio managers, Roger Merz and Thomas Schaffner, are supported by a dedicated Zurich-based team of 21 investment professionals.

Insights

Sustainable Equities Boutique
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Viewpoint | Read | 4 min

ESG in emerging markets has room to mature

As sustainability-minded equity investors are looking beyond their home turf, the global importance of environmental, social and governance (ESG) standards is rising. But while their significance is relatively high in the “west”, emerging-markets companies have some catching up to, according to Lara Kesterton, Vontobel’s Head of mtx ESG Research.

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Sustainable Equities Boutique
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Outlook | Read | 4 min

Emerging-market equities: semiconductor outlook in the year of the rat

We are cautiously optimistic for emerging-market equities in 2020. In the Chinese zodiac, the quick-witted rat is succeeding the clumsy pig, which in 2019 struggled with an American bull. With China and the US now apparently unlocking horns, things should get easier. Meanwhile, the outlook for Asian semiconductor companies remains solid.

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Sustainable Equities Boutique
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Outlook | Read | 5 min

Emerging markets: focus on stocks, not the market, as you enter the fourth quarter

The US-Chinese trade conflict has become a global worry, but the issue is sometimes blown out of proportion. While emerging-market investors take cover from trans-Pacific gales and local Asian thunderstorms, we stay the course. As stock pickers, we suggest three “gos”: go domestic, go stock-specific, and go cheap.

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Sustainable Equities Boutique
Outlook | Read | 1 min

Emerging market equities: Outlook Q3 2019

Are emerging and developed markets increasingly correlated due to the trade war? Roger Merz, Head of mtx Portfolio Management, explains what declining correlations over the last couple of years mean for investors. Marc Bindschädler, Client Portfolio Manager, reviews Q2 and explains why he believes emerging market equities will remain attractive in Q3.

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Sustainable Equities Boutique
Outlook | Read | 1 min

Emerging Market Equities: Outlook Q2 2019

After a negative 2018, emerging market equity markets rallied in Q1 2019. Roger Merz, Head of mtx Portfolio Management, explains why he believes emerging market equities will remain attractive in Q2. Thomas Schaffner, Senior Portfolio Manager, explains why he expects leading property developers in China to continue generating strong revenue and profit growth despite a relatively challenging environment.

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