14 March 2011

The earthquake followed by a tsunami on 11 March 2011 caused, above all in Japan, great human suffering and enormous destruction, the extent of which is still not fully comprehensible at the present moment. Thus the state of the nuclear power plants affected continues to give cause for concern, leading to uncertainty. However, we are relieved to hear that fortunately our business partners in Japan have not been directly affected by this disaster and have not recorded any personal injuries or damage to property. They can thus go about their daily business without any restrictions. The stock markets in Japan are also open so that our investment funds are also being managed and evaluated as normal.

Apart from the aforementioned damage, the economic effects can not be assessed as yet. In the short term, a noticeable decline in the Japanese economy is expected. In the long term, however, the Japanese economy should begin to grow again on account of the reconstruction of the infrastructures. But the effects of the earthquake in Japan will also have global effects, for example on the energy and insurance industries. Swisscanto will analyse the situation continuously and take the appropriate measures.