Saxo Investor Forecast - Switzerland

Swiss investors enter the next six months with a firm sense of optimism—particularly toward the Swiss and global equity markets—while displaying a steady approach to diversification and a selective sensitivity to macroeconomic themes.

General Optimism on Market Performance

In the first line of questions, we asked our clients whether they believe that the five equity markets—the Swiss market, the US market, the European market, the Japanese market, and the global market—would 1) increase, 2) decrease, or show 3) no movement in value over the next half-year.

Swiss investors express strong expectations for the Swiss market, where 65% foresee an increase. Confidence in the global market is similarly elevated, with 67% of respondents expecting gains versus 57% globally. Views on the US market follow the same pattern, with 45% expecting an increase compared with 40% globally. Expectations for the European and Japanese markets sit closer to the global benchmark—54% compared with 51% globally for Europe, and 62% compared with 63% globally for Japan.

Gender and Age Differences

Gender differences are among the most pronounced in the Swiss sample. 89% of Swiss women expect the Swiss market to increase (vs 57% globally expecting an increase in their “local” market), and 83% expect the global market to rise (vs 62% globally). Swiss men also hold more optimistic views than their global peers, with 64% anticipating a Swiss market increase (vs 48% globally) and 65% forecasting gains in the global market (vs 57% globally).

Age patterns follow a similar trend. Among respondents aged 18–35, 75% expect the Swiss market to rise (vs 56% globally), and 83% anticipate gains in the global market (vs 70% globally). Optimism remains above global levels across older age groups, though differences narrow modestly.

Overall, Switzerland stands out for having one of the most optimistic investor bases in the survey—led especially by women and younger respondents.

Diversification Plans

Most Swiss investors expect to maintain their current level of diversification. We’ve asked our client base whether they are most likely to invest in the same, new, or fewer regions, sectors, or asset classes than today.

A substantial 68% of Swiss respondents expect to invest in the same areas as today, exceeding the 63% global result. Only 21% plan to expand into new areas—lower than the 27% global figure—while 11% expect to invest in fewer areas, closely aligned with the 10% global outcome.

Gender and Age Differences

Swiss women are especially anchored in their existing allocations: 81% expect to keep diversification unchanged, compared with 67% of Swiss men and 56% of women globally. The inclination to stay with existing allocations is high across all age groups (approximately 65–69%, each above global averages). Meanwhile, the appetite for expanding into new areas decreases with age—from 26% among those aged 18–35 (vs 31% globally) to 20% among those aged 61+ (vs 23% globally).

Macro Themes

Overvaluation stands out as the strongest macro theme for Swiss investors. As the final part of this investor forecast, we asked our clients whether they were considering altering their investment strategy based on:

• Trump’s policy impacts
• European defence needs
• AI-driven opportunities
• AI-related concerns
• Growth optimism
• Reconsidering if the market is overvalued

Swiss respondents show lower sensitivity than the global sample across most macro themes. Only 30% say European defence needs may influence their strategy, compared with 48% globally. The difference is similar for several other themes: 42% versus 54% globally for growth optimism, 44% versus 56% for AI-driven opportunities, 51% versus 57% for Trump-related policy impacts, and 49% versus 53% for AI-related concerns.

The one consistent alignment with global sentiment relates to market overvaluation. Here, 68% of Swiss investors indicate it may affect their strategy, almost identical to the 69% global result. This positions valuation concerns as the most influential factor in Swiss strategic thinking.

Gender and Age Differences

Gender patterns in Switzerland diverge meaningfully. 53% of Swiss women say European defence needs may influence them versus 28% of Swiss men—creating a far larger gap than observed globally. Conversely, 54% of Swiss men say Trump-related policy impacts may influence them, compared with 32% of Swiss women.

Age dynamics show that growth optimism is strongest among younger investors (52% among 18–35, broadly in line with 53% globally) and declines with age. Meanwhile, concern over AI-related issues increases progressively from 46% to 48% to 54%, creating a more pronounced age gradient than in the global sample.

Altogether, Swiss investors appear selective in their responsiveness to macro themes, but concerns about market valuation remain a central and broadly shared driver of potential strategic change.

Information Sources

Traditional finance media lead discovery; influencer channels play a secondary role. We asked Swiss respondents which information sources they use to discover new investment opportunities.

Swiss investors primarily rely on traditional finance media. A clear majority point to financial news and industry publications as their primary source, followed by a smaller but meaningful share selecting finance influencer blogs and forums. Bank research plays a moderate role, while friends and acquaintances are rarely seen as a key source. Overall, Switzerland exhibits a media-led discovery pattern, combining established financial journalism with selective use of digital influencer channels.

Gender and Age Differences

Younger investors (18–35) divide their attention almost evenly between financial news and influencer content, indicating a dual-track approach to gathering information. Older cohorts lean more heavily toward traditional media and bank research. Women show a higher inclination than men to use influencer content, while men remain slightly more anchored in conventional financial news.

About the Survey

The survey was undertaken from 6 February to 1 March 2026. As such, most replies were collected prior to the US and Israel attacks on Iran on 28 February 2026 and thus do not include any considerations about the added uncertainty caused by this conflict, which in many instances may have altered sentiment. The survey asked investors to look at their perception of the financial markets in the six months from 1 April to 30 September. The survey was answered by 212 clients in Switzerland.

Survey Results

How do you think the following equity markets will perform in the coming half year?

Swiss Market

Segment	Increase	No Movement	Decrease
All responses	65.2%	23.9%	10.9%
Male	63.6%	25.3%	11.1%
Female	88.9%	0.0%	11.1%
Non-binary / third gender	0.0%	100.0%	0.0%
Age 18–35	75.0%	12.5%	12.5%
Age 36–60	70.0%	20.9%	9.1%
Age 61+	50.0%	36.0%	14.0%

US Market

Segment	Increase	No Movement	Decrease
All responses	45.1%	15.8%	39.1%
Male	44.2%	16.6%	39.3%
Female	52.9%	5.9%	41.2%
Non-binary / third gender	100.0%	0.0%	0.0%
Age 18–35	50.0%	11.5%	38.5%
Age 36–60	40.7%	19.4%	39.8%
Age 61+	52.0%	10.0%	38.0%

European Market

Segment	Increase	No Movement	Decrease
All responses	54.1%	29.7%	16.2%
Male	53.4%	30.1%	16.6%
Female	55.6%	27.8%	16.7%
Non-binary / third gender	100.0%	0.0%	0.0%
Age 18–35	50.0%	25.0%	25.0%
Age 36–60	56.9%	28.4%	14.7%
Age 61+	50.0%	34.6%	15.4%

Japanese Market

Segment	Increase	No Movement	Decrease
All responses	62.0%	19.6%	18.4%
Male	61.4%	20.7%	17.9%
Female	78.6%	7.1%	14.3%
Non-binary / third gender	0.0%	0.0%	100.0%
Age 18–35	66.7%	9.5%	23.8%
Age 36–60	66.3%	17.4%	16.3%
Age 61+	51.1%	28.9%	20.0%

Global Market

Segment	Increase	No Movement	Decrease
All responses	66.7%	18.9%	14.4%
Male	64.6%	20.9%	14.6%
Female	83.3%	0.0%	16.7%
Non-binary / third gender	100.0%	0.0%	0.0%
Age 18–35	83.3%	4.2%	12.5%
Age 36–60	65.7%	18.5%	15.7%
Age 61+	60.4%	27.1%	12.5%

Investment Strategy

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Segment	Same	New	Fewer
All responses	67.9%	21.2%	10.9%
Male	67.0%	21.6%	11.4%
Female	81.0%	14.3%	4.8%
Non-binary / third gender	100.0%	0.0%	0.0%
Age 18–35	64.5%	25.8%	9.7%
Age 36–60	68.8%	20.8%	10.4%
Age 61+	67.9%	19.6%	12.5%

Macro Themes

Trump’s Policy Impacts

Segment	Yes	No
All responses	51.3%	48.7%
Male	54.0%	46.0%
Female	31.6%	68.4%
Non-binary / third gender	0.0%	100.0%
Age 18–35	29.6%	70.4%
Age 36–60	55.6%	44.4%
Age 61+	53.8%	46.2%

European Defence Needs

Segment	Yes	No
All responses	30.3%	69.7%
Male	28.1%	71.9%
Female	52.6%	47.4%
Non-binary / third gender	0.0%	100.0%
Age 18–35	14.3%	85.7%
Age 36–60	32.2%	67.8%
Age 61+	34.6%	65.4%

AI-Driven Opportunities

Segment	Yes	No
All responses	43.5%	56.5%
Male	42.5%	57.5%
Female	47.6%	52.4%
Non-binary / third gender	100.0%	0.0%
Age 18–35	40.7%	59.3%
Age 36–60	44.7%	55.3%
Age 61+	42.3%	57.7%

AI-Related Concerns

Segment	Yes	No
All responses	49.5%	50.5%
Male	51.2%	48.8%
Female	38.1%	61.9%
Non-binary / third gender	0.0%	100.0%
Age 18–35	46.4%	53.6%
Age 36–60	48.3%	51.7%
Age 61+	53.8%	46.2%

Growth Optimism

Segment	Yes	No
All responses	42.3%	57.7%
Male	39.5%	60.5%
Female	47.4%	52.6%
Non-binary / third gender	100.0%	0.0%
Age 18–35	51.9%	48.1%
Age 36–60	39.5%	60.5%
Age 61+	43.8%	56.3%

Reconsidering if Markets are Overvalued

Segment	Yes	No
All responses	67.9%	32.1%
Male	68.9%	31.1%
Female	47.4%	52.6%
Non-binary / third gender	0.0%	100.0%
Age 18–35	40.0%	60.0%
Age 36–60	73.3%	26.7%
Age 61+	69.4%	30.6%

Information Sources

Segment	Financial News and Industry Publications	Finance Influencers Blogs and Forums	Other	Market Experts and Research from Your Bank	Friends and Acquaintances
All responses	58.3%	19.9%	10.9%	10.0%	0.9%
Male	58.7%	19.0%	10.9%	10.3%	1.1%
Female	52.4%	28.6%	9.5%	9.5%	0.0%
Non-binary / third gender	100.0%	0.0%	0.0%	0.0%	0.0%
Prefer not to say	60.0%	20.0%	20.0%	0.0%	0.0%
Age 18–35	41.9%	41.9%	9.7%	3.2%	3.2%
Age 36–60	61.3%	20.2%	9.7%	8.1%	0.8%
Age 61+	60.7%	7.1%	14.3%	0.0%	0.0%

This material is marketing content and should not be regarded as investment advice. Trading financial instruments carries risks and historic performance is not a guarantee of future results.