Progress despite weak dollar

Just like the SMI, our portfolio progressed last week, reaching -2.76% since February 3rd. The Swiss market is now at -0.23% since the same date. Remember that our securities are defensive in nature and that our primary objective is not to beat the market, but to get closer to its performance while having a volatility less. The resistance to the falling dollar is particularly encouraging and indicates that the strategy of concentrating on international companies is consistent. The portfolio's volatility is stable, at 12.32%, well below that of the SMI, which hovers at 17.60%. Despite this, due to the portfolio's currently insufficient return, the Sharpe ratio is still negative and lower than the Swiss market.