Salmann Investment Management AG

An asset management company
independent from any financial institutions since 1985.

Salmann Investment Management AG is an asset management company, entirely independent of all financial institutions and specialising in serving discerning wealthy private clients. We also manage large institutional portfolios. Founded in 1985, the company is owned by founding shareholders who are closely linked to the company, and by a partner who have overall responsibility for its management.

The term «Salmann», in Middle High German «Salman», stands for a trusted advisor. In ancient Alemannic-German judicial terms, a «Sala» denotes a trustee.

Investment-Blog Stories

Calm After the Storm?

The second quarter of 2026 brought a strong recovery in financial markets. After the energy-driven supply shock had weighed on asset prices at the beginning of the year, risk appetite returned with remarkable speed. Two forces shaped the quarter: the gradual de-escalation of the Middle East conflict, which eased oil prices and acute inflation concerns, and the continued momentum in AI infrastructure, supported by strong corporate results and high earnings expectations. This was countered by a more restrictive monetary policy tone: in view of persistent inflation, expectations of rate cuts receded, while central banks maintained their focus on inflation risks. Equity markets nevertheless recorded their strongest quarter in years. This contrast between confidence and caution set the tone for the quarter.

When Geopolitics Becomes the Market Variable

The first quarter of 2026 was marked by a pronounced shift in market sentiment. Following a strong start to the year, with several equity markets reaching new highs, a broad-based correction set in as the quarter progressed. The trigger was the military escalation in the Middle East, which pushed global capital markets into an energy-driven supply shock: rising energy prices, weakening growth expectations, and a diminishing reliability of traditional hedging mechanisms. At the same time, trade policy tensions and growing doubts over the independence of US monetary policy, following actions targeting Federal Reserve Chair Jerome Powell that were widely interpreted as political interference, added a further layer of uncertainty. In this demanding environment, diversification and discipline are becoming increasingly important.

Resilient Markets in a Challenging Year

The fourth quarter of 2025 was shaped by a challenging political and geopolitical environment, yet financial markets once again demonstrated remarkable resilience. Political tensions and international conflicts dominated headlines but failed to trigger any lasting destabilisation of markets.

Capital Markets at Ease. Global Politics in Motion.

After a calm start to the third quarter, equity markets experienced a surprisingly strong upswing from the beginning of August. Share prices rose worldwide, and developments turned out better than many market participants had expected. Particularly in the United States, stock markets reached new all-time highs, fuelled by a sustained investment boom in artificial intelligence.

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