Investment Views - VP Bank

38 | November 2010 | Asset Classes | Equities
Equities
Equity Selection List
Switzerland
Sector/Company Industry Group Curr. Market Cap. Price P/E Div. Yield YTD
(millions) (indicative) 2010E 1 2010E 1 Perf. %
Consumer Discretionary
Swatch Group Textiles/clothing and luxury goods CHF 19,391 368.00 18.9 1.4 40.5
Kuoni Reisen Hotels/restaurants and leisure CHF 1,271 421.00 18.5 2.1 22.0
Consumer Staples
Nestlé SA Food CHF 179,834 52.35 16.1 3.4 6.6
Lindt & Sprüngli Food CHF 6,052 2,440.00 23.4 1.8 11.9
Barry Callebaut Food CHF 3,932 750.50 16.3 1.8 18.7
Energy
– – – – – – – –
Materials
Holcim Ltd. Construction materials CHF 20,034 62.85 14.7 2.4 –22.4
Clariant AG Chemicals CHF 3,669 16.05 11.5 0.9 30.4
Industrials
ABB Ltd. Automation and power technologies CHF 49,385 21.57 19.8 2.3 10.2
Schindler Holding AG Machinery CHF 12,809 106.60 18.7 2.0 36.2
Sulzer AG Machinery CHF 3,950 118.00 15.5 2.1 45.8
Telecoms
Swisscom AG Misc. telecommunication services CHF 20,457 396.80 11.2 5.7 5.3
IT
Logitech International S.A. Computer peripherals CHF 3,460 17.92 51.2 0.0 0.7
Utilities
– – – – – – – –
Healthcare
Novartis AG Pharmaceuticals CHF 151,004 56.75 11.7 3.9 4.9
Roche Holding – GS Pharmaceuticals CHF 125,249 138.40 11.0 4.6 –15.4
Synthes Inc. Instruments/products CHF 14,151 115.30 16.1 1.2 –11.0
Galenica AG Installation/services CHF 3,120 481.75 14.3 1.6 30.4
Financials
UBS AG Capital markets CHF 66,848 17.37 9.9 0.2 8.7
Credit Suisse Group AG Capital markets CHF 51,181 42.64 8.9 4.6 –12.1
Zurich Financial Services AG Insurance CHF 34,492 234.50 9.2 6.6 10.5
Helvetia Holding AG Insurance CHF 2,981 344.50 8.9 4.5 11.9
1 Expected Bloomberg consensus