François Bloch is a true born-and-bred stockbroker. An investment strategist and quantitative asset manager, he has decades of experience in the investment sector, achieving outstanding results over the long term. Bloch is primarily known to the general public as a journalist. As a stock market columnist for outlets such as the Aargauer Zeitung, Solothurner Zeitung, Tages-Anzeiger and various other financial portals, he has a huge fan base. The prominence of the MBA and EMBA is also evident from the number of clicks on BX Swiss TV. In the Morningcall of the stock market operator, Bloch discusses the latest news from the world of finance and welcomes interesting guests from business or finance each month. The weekly presentation each Wednesday of three promising shares from the BX model portfolio attracts particular attention. As of now, investors have the opportunity to share in the BX model portfolio: Leonteq has just launched ETP on the BX Swiss Morningcall Index NTR.
The underlying contains 22 top stocks which meet the strict requirements. Reflecting their global economic dominance, North American companies set the tone, currently making up 72% of the BX Swiss Morningcall Index. Dollarama is one of those that fascinates the experts. The Canadian general store sells low-cost products and is pursuing a promising expansion strategy in South America. That this is paying off is borne out by the figures: sales of the Montreal-based discounter grew by 8.6% in the last quarter, with earnings per share up a disproportionate 22%, far exceeding analysts’ expectations. The forecast of annual sales growth of between 3.5% and 4.5% was confirmed. To drive its expansion further, Dollarama recently acquired another 10% stake in the Latin American value retailer Dollarcity, increasing its share to 60.1%. “Business is going perfectly,” Bloch enthused in the Morningcall not long ago, pointing at the same time to an exponential improvement in the EBIT return from 21.3% in 2021 to 26.1% in 2026. The current economic downturn is working in the company’s favour, as customers are turning to CAD-1 or CAD-2 products more frequently as a result. “Dollarama has no competition in this segment in Canada,” the financial professional explained.
In his latest call François Bloch also referred to his favourite stock, Eli Lilly. The US stock recently came under pressure due to the possibility of competition from Roche with an anti-obesity pill. According to the expert, however, Roche still has a lot of years of research ahead if it is actually to be able to bring a competing product onto the market. Meanwhile, recent research indicates that the Eli Lilly drug is not only useful for lowering weight, but can also promote physical wellbeing and reduce the risk of Alzheimer’s. “That opens up whole new fields,” said an enthusiastic Bloch. Should the new projects be confirmed, there could be further surges in the share price over the next few years. “We backed the right horse, and I think it's right to continue the story,” said the expert. The price of the pharmaceutical stock rose by 68% over one year alone – and over five years it has gone up by more than 700%. The current track record of the BX Swiss Morningcall Index also speaks for itself: since it was launched in November 2023, the rise in the price of the barometer peaked at almost 40%. Although the index has been unable to escape the most recent correction on the markets, the yardstick is still up more than a fifth. Its performance was helped by the dividends paid out by the companies contained in the underlying, which were reinvested net in the index.
Investors can rely on the robust structure of their investment. As usual, the ETP is collateralised. In contrast to many other ETP houses, Leonteq is regulated by FINMA as a securities firm, enjoys a long track record in the issuance of investment products and has a solid equity base. Just recently Fitch raised the long-term issuer default rating (IDR) of Leonteq Securities AG from “BBB-” to “BBB” with a stable outlook. Even so, a pledge is deposited with SIX SIS AG for the new ETP. The depositary agent ensures that investors have access to these funds in the event of the issuer becoming insolvent. When it comes to costs, the product has nothing to be ashamed of, though, with an annual management fee of 0.50%.
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