Top Swiss Independent Asset Managers 2026: NS Partners Recognized by Citywire

NS Partners Recognized Among Top Swiss Independent Asset Managers in Citywire 2026 Ranking

 

NS Partners is pleased to announce its inclusion in the Citywire Switzerland Top 50 Swiss Independent Asset Managers 2026, a recognition highlighting firms that play a leading role in Switzerland’s independent wealth and asset management industry.

Each year, Citywire Switzerland publishes its report on the Top Swiss Independent Asset Managers, identifying firms distinguished by the strength of their investment capabilities, the expertise of their teams and their ability to deliver long-term value to clients. The ranking provides an overview of some of the most respected Swiss independent asset managers operating in today’s competitive wealth management landscape.

Being included in this year’s selection reflects NS Partners’ continued commitment to disciplined investment management and client-focused portfolio solutions.

Citywire’s Top Swiss Independent Asset Managers Report

Founded in 1964, NS Partners has built a long-standing reputation as a Swiss independent asset manager focused on active investment management and long-term capital growth. Our investment philosophy combines deep fundamental research with a global perspective, enabling us to identify high-quality investment opportunities across market cycles.

Today, NS Partners serves private clients, family offices and institutional investors worldwide, offering tailored portfolio solutions aligned with each client’s objectives and long-term investment horizon.

Our inclusion among the Top Swiss Independent Asset Managers 2026 reflects the dedication of our teams and the trust placed in us by our clients and partners. We thank them for their continued confidence and support.

The full Citywire Switzerland report can be accessed here.

About NS Partners

Founded in 1964, NS Partners is an independent asset management firm providing active investment strategies and tailored portfolio solutions to private clients, family offices and institutional investors worldwide. With a global investment perspective and a disciplined fundamental research process, the firm focuses on long-term capital growth and high-conviction investment strategies across international markets.

 

For more information about our services and expertise, please don’t hesitate to contact us.

 

Past performance is not indicative of future results. The views, strategies and financial instruments described in this document may not be suitable for all investors. Opinions expressed are current opinions as of the date(s) appearing in this material only. References to market or composite indices, benchmarks or other measures of relative market performance over a specified period of time are provided for your information only.

NS Partners provides no warranty and makes no representation of any kind whatsoever regarding the accuracy and completeness of any data, including financial market data, quotes, research notes or other financial instruments referred to in this document.

This document does not constitute an offer or solicitation to any person in any jurisdiction in which such offer or solicitation is not authorized or to any person to whom it would be unlawful to make such offer or solicitation. Any reference in this document to specific securities and issuers are for illustrative purposes only, and should not be interpreted as recommendations to purchase or sell those securities.

References in this document to investment funds that have not been registered with the Finma cannot be distributed in or from Switzerland except to certain categories of eligible investors. Some of the entities of the NS Partners group or its clients may hold a position in the financial instruments of any issuer discussed herein, or act as advisor to any such issuer. Additional information is available on request.

© NS Partners Group

Chart of the month: Gold, Gold, Gold. Switzerland the quiet giant.

Gold, Gold, Gold. Switzerland the quiet giant.

 

gold Switzerland
Source: World Gold Council, Swiss Federal Statistical Office, Bloomberg, NS Partners. Image generated by artificial intelligence based on author-provided content.

 

The gold rush is back. Gold has climbed to new record highs, emerging as the top-performing asset class year-to-date, with gains above +50% in USD. From private investors to central banks, demand has surged across the board.

Gold remains an ultimate hedge against inflation, currency debasement and uncertainty, a safe harbor when markets tremble. Amid the global search for safety, Switzerland stands out as a quiet pillar of strength.

Did you know that Switzerland holds more gold per capita than any other country in the world?

The Swiss National Bank currently holds around 1,040 tonnes of gold, equivalent to roughly 100 billion Swiss francs in value, placing Switzerland seventh worldwide in total holdings. On a per capita basis, this corresponds to about 118 grams of gold per Swiss resident, which is the highest ratio in the world. Although the Swiss franc has not been backed by gold since 1999, the Swiss National Bank continues to maintain substantial reserves. This reflects Switzerland’s enduring tradition of financial prudence, stability and independence.

This impressive reserve position has a measurable impact. In 2024, the rise in gold prices generated an unrealized gain of CHF 21.2 billion, contributing significantly to the Swiss National Bank’s record profit of around CHF 80 billion. In early 2025, gold prices surged further, adding CHF 12.8 billion in valuation gains in the first quarter, partially offsetting foreign currency headwinds. By mid-2025, after a moderate correction in gold prices, unrealized gains stood at CHF 8.6 billion, confirming gold’s role as a key stabilizing factor in the Swiss National Bank’s balance sheet.

Switzerland’s strength extends well beyond its reserves. The same principles that underpin its monetary discipline are visible across the real economy. A focus on high value-added sectors such as pharmaceuticals, chemicals, machinery and precision engineering has built a foundation of sustainable growth and innovation, rather than reliance on low-margin industries such as automotive.

Resilience is not only an economic story; it is also a market story. Switzerland is a strong economy, with a resilient industry and a robust financial market. Over the past decade, Swiss small and mid-caps have shown consistent outperformance. While this momentum has moderated over the past five years, performance has reaccelerated over the most recent twelve months. Still, it is precisely within Swiss small and mid-caps that the most attractive opportunities reside, featuring hidden champions and niche innovators offering long-term value potential.

 

 

 

Past performance is not indicative of future results. The views, strategies and financial instruments described in this document may not be suitable for all investors. Opinions expressed are current opinions as of date(s) appearing in this material only. References to market or composite indices, benchmarks or other measures of relative market performance over a specified period of time are provided for your information only. NS Partners provides no warranty and makes no representation of any kind whatsoever regarding the accuracy and completeness of any data, including financial market data, quotes, research notes or other financial instrument referred to in this document. This document does not constitute an offer or solicitation to any person in any jurisdiction in which such offer or solicitation is not authorized or to any person to whom it would be unlawful to make such offer or solicitation. Any reference in this document to specific securities and issuers are for illustrative purposes only, and should not be interpreted as recommendations to purchase or sell those securities. References in this document to investment funds that have not been registered with the FINMA cannot be distributed in or from Switzerland except to certain categories of eligible investors. Some of the entities of the NS Partners Group or its clients may hold a position in the financial instruments of any issuer discussed herein, or act as advisor to any such issuer.  Additional information is available on request.
© NS Partners Group

Chart of the month: Gold, Gold, Gold. Switzerland the quiet giant.

Gold, Gold, Gold. Switzerland the quiet giant.

 

gold Switzerland
Source: World Gold Council, Swiss Federal Statistical Office, Bloomberg, NS Partners. Image generated by artificial intelligence based on author-provided content.

 

The gold rush is back. Gold has climbed to new record highs, emerging as the top-performing asset class year-to-date, with gains above +50% in USD. From private investors to central banks, demand has surged across the board.

Gold remains an ultimate hedge against inflation, currency debasement and uncertainty, a safe harbor when markets tremble. Amid the global search for safety, Switzerland stands out as a quiet pillar of strength.

Did you know that Switzerland holds more gold per capita than any other country in the world?

The Swiss National Bank currently holds around 1,040 tonnes of gold, equivalent to roughly 100 billion Swiss francs in value, placing Switzerland seventh worldwide in total holdings. On a per capita basis, this corresponds to about 118 grams of gold per Swiss resident, which is the highest ratio in the world. Although the Swiss franc has not been backed by gold since 1999, the Swiss National Bank continues to maintain substantial reserves. This reflects Switzerland’s enduring tradition of financial prudence, stability and independence.

This impressive reserve position has a measurable impact. In 2024, the rise in gold prices generated an unrealized gain of CHF 21.2 billion, contributing significantly to the Swiss National Bank’s record profit of around CHF 80 billion. In early 2025, gold prices surged further, adding CHF 12.8 billion in valuation gains in the first quarter, partially offsetting foreign currency headwinds. By mid-2025, after a moderate correction in gold prices, unrealized gains stood at CHF 8.6 billion, confirming gold’s role as a key stabilizing factor in the Swiss National Bank’s balance sheet.

Switzerland’s strength extends well beyond its reserves. The same principles that underpin its monetary discipline are visible across the real economy. A focus on high value-added sectors such as pharmaceuticals, chemicals, machinery and precision engineering has built a foundation of sustainable growth and innovation, rather than reliance on low-margin industries such as automotive.

Resilience is not only an economic story; it is also a market story. Switzerland is a strong economy, with a resilient industry and a robust financial market. Over the past decade, Swiss small and mid-caps have shown consistent outperformance. While this momentum has moderated over the past five years, performance has reaccelerated over the most recent twelve months. Still, it is precisely within Swiss small and mid-caps that the most attractive opportunities reside, featuring hidden champions and niche innovators offering long-term value potential.

 

 

 

Past performance is not indicative of future results. The views, strategies and financial instruments described in this document may not be suitable for all investors. Opinions expressed are current opinions as of date(s) appearing in this material only. References to market or composite indices, benchmarks or other measures of relative market performance over a specified period of time are provided for your information only. NS Partners provides no warranty and makes no representation of any kind whatsoever regarding the accuracy and completeness of any data, including financial market data, quotes, research notes or other financial instrument referred to in this document. This document does not constitute an offer or solicitation to any person in any jurisdiction in which such offer or solicitation is not authorized or to any person to whom it would be unlawful to make such offer or solicitation. Any reference in this document to specific securities and issuers are for illustrative purposes only, and should not be interpreted as recommendations to purchase or sell those securities. References in this document to investment funds that have not been registered with the FINMA cannot be distributed in or from Switzerland except to certain categories of eligible investors. Some of the entities of the NS Partners Group or its clients may hold a position in the financial instruments of any issuer discussed herein, or act as advisor to any such issuer.  Additional information is available on request.
© NS Partners Group

Swiss industry: stability amid uncertainty

A driver of growth and a source of added value, Swiss industry deserves its place in investment portfolios.

Often seen as a service-driven economy, Switzerland in fact rests on a solid and diversified industrial base. Key sectors such as pharmaceuticals, chemicals, machinery, metalworking and electricity generation make up a robust export-oriented industrial ecosystem that plays a decisive role in the country’s wealth creation. In 2024, the secondary sector made up 24.7% of GDP, an unusually high figure for a developed economy, exceeding the European Union average.

A Remarkable Trajectory, Despite a Strong Franc
The Swiss franc, long considered a traditional safe-haven asset, has strengthened versus other major global currencies. In theory, this trend should undermine export competitiveness, yet it has not hindered the momentum of Swiss industry. In fact, over the past 15 years, Swiss industrial production has shown steady growth. In Q1 2025, it rose by +8.5% year-over-year. Even more striking, industrial output has grown by nearly 40% since 2010 despite the franc strengthening by over 25% relative to the euro. What explains such performance? Much of it lies in the structure of Swiss industry itself. The absence of a large automotive sector, combined with a focus on high value-added niches, gives Swiss industry greater resilience to external shocks and the ability to export specialized goods that continue to be in high demand globally.

Understanding the Swiss Industry Landscape

Switzerland Generates Far More Value Per Exported Unit than China
While China remains the world’s largest industrial producer by volume, Switzerland stands out through its much higher value-added intensity. In 2024, Switzerland’s per capita trade surplus was nearly 12 times higher than China’s. This momentum also sets Switzerland apart within Europe. Industrial growth here has been significantly more robust than in most major European economies, including Germany.

U.S. Trade Policy: Ongoing Uncertainty
In 2025, one of the key external risks remains the trade policy of the United States. Tariff measures announced by Donald Trump prompted many companies to bring forward deliveries into Q1, contributing to GDP growth for the period. In response to this uncertain climate, Swiss companies are adopting various adaptation strategies: price adjustments, partial reshoring of value chains, and geographic diversification, even as hopes persist for a bilateral agreement. Diplomatic pressure is mounting and drawing firm conclusions in such a fluid environment remains risky. However, Switzerland’s focus on differentiated products suggests the country will continue to adapt effectively.

A Strategic Long-Term Positioning
Despite international economic uncertainty, Swiss industry, driven by niche leaders, a culture of constant innovation and a highly skilled workforce makes a strong case for long-term strategic exposure in investment portfolios. Whether facing a strong franc or trade tensions with the U.S., Swiss firms are quick to adapt. Even in a context of global slowdown, Switzerland continues to maintain a healthy trade surplus. This reflects the structural resilience of its industrial model.

 

 

 

Past performance is not indicative of future results. The views, strategies and financial instruments described in this document may not be suitable for all investors. Opinions expressed are current opinions as of the date(s) appearing in this material only. References to market or composite indices, benchmarks or other measures of relative market performance over a specified period of time are provided for your information only. NS Partners provides no warranty and makes no representation of any kind whatsoever regarding the accuracy and completeness of any data, including financial market data, quotes, research notes or other financial instruments referred to in this document. This document does not constitute an offer or solicitation to any person in any jurisdiction in which such offer or solicitation is not authorized or to any person to whom it would be unlawful to make such offer or solicitation. Any reference in this document to specific securities and issuers are for illustrative purposes only, and should not be interpreted as recommendations to purchase or sell those securities. References in this document to investment funds that have not been registered with the Finma cannot be distributed in or from Switzerland except to certain categories of eligible investors. Some of the entities of the NS Partners group or its clients may hold a position in the financial instruments of any issuer discussed herein, or act as advisor to any such issuer. Additional information is available on request.  © NS Partners Group