It looks really good, I prefer it to the app. Everything is accessible quicker.
Since I have 5 custom portfolios I alsway wonder how they are performing compared to say their preset global portfolio. I know I could calculate it myself but a benchmark would be nice
At this point, all Credit Suisse funds in VIAC containing US stocks are not tax efficient as they are based in CH. That’s why they offered an Ishares version for the S&P500 based in IE, which is included by default in the global 100 strategy
Up until now I have been using almost only the CSIF funds eg. World exCH etc.
In this case, any idea which funds would be optimal to replicate a “world portfolio”?
How bad is this tax inefficiency and how can I calculate it?
I have come up with the following portfolio. It’s similar to VIACs own Global100 portfolio, but with the bulk of swiss equity being SPI Extra instead of SMI
35% SPI Extra (CH0110869143)
30% S&P500 (IE00B5BMR087)
10% Europe exCH (CH0037606552)
10% EM (CH0017844686)
10% Pacific ex JPN (CH0030849654)
2% SMI
3% Cash
So it seems like the Europe, EM and Pacific are still not tax efficent with this portfolio
From a pure tax efficiency standpoint, disregarding opinions on SRI investing would the following make sense:
Europe > use “UBS ETF MSCI EMU SRI” (LU0629460675)
Pacific > use "UBS ETF MSCI Pacific SRI LU0629460832
EM > use “UBS ETF MSCI Emerging Markets SRI” (LU1048313891)
such a portflio would cost ~0.15% more in fees.
Is this worth it?
Only CSIF funds holding US stocks are not tax efficient.
It can be calculated.
Let’s take, a Swissfund tracking the S&P500 and and IE fund tracking the S&P500.
If the dividend yield is 2%, the IE fund will be taxed at 15% on dividends (15%*2%=0.3 %) and the Swissdfund taxed at 30% on dividends (15%*2%=0.6 %). The difference is 0.3% (30 bps).
WIthout taking any other cost, the swiss fund will have 0.3% lower performances.
Luxemburg funs like SRI from UBS have the same tax rate as swiss funds.
You would need to select this fund: S&P500 (IE00B5BMR087)
Thanks a lot for the replies. I am also very interesting for high amount of cash and bonds. My initial guess are the following:
-for high yields bonds, it is because the fixed incomes will not be taxed in a 3rd pillar account.
-for the 50% cash, you expect a market crash soon and want to use it to buy equities ETF at cheap price when it crashes.
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