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Small and Mid Caps

Swiss Small and mid caps

Agile Innovators with a Global Reach

Swiss Small and mid caps
What you need to know about Swiss small and mid caps

The SPI Extra (the Swiss small- and mid-cap index) has demonstrated strong long-term returns. This was mainly driven by high underlying growth rates, while both the SPI and the SPI Extra have delivered significantly higher returns than global equity markets.


Despite being a headwind, the Swiss franc’s decades of strength have never deterred Swiss companies of all market caps from expanding internationally.


The market segment currently offers higher earnings potential than large caps, partly as a reflection of its higher weighting to more cyclical segments.


Fundamental earnings improvements in 2017 are fuelling the market and any equity risk premium reduction could contribute to a higher annual performance.


Switzerland is renowned for its large global industry leaders – many are household names in their fields, such as Nestlé, Novartis and Richemont. The Swiss small- and mid-cap space is characterised by global industry leaders, often acting in niche and attractive markets, which mostly results in strong pricing power.

Swiss companies boast solid balance sheets, given a history of conservative management which allows for significant leeway to use cash to increase shareholder distributions (such as dividend increases and share buy-backs) and/or engage in accretive M&A.

Our active management approach and in-depth experience, along with our knowledge of small and mid caps, create potential for significant alpha generation.

Further reading

Small & mid caps

A fertile hunting ground for active managers


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