Portfolio Construction by QuantArea for the Winvest Swiss Equity Fund
In December 2024, WINVEST ASSET MANAGEMENT AG launched its first fund. As the investment advisor, QuantArea is responsible for portfolio construction and provides updated model weights for the fund on a quarterly basis. The result: a systematic ivnestment process, rapid time-to-market, and clear outperformance compared to the benchmark (SPI) and peer group.
Below, Stefan Rammelmeyer (CEO, WINVEST ASSET MANAGEMENT AG) and Marcel Masshardt (CEO, QuantArea AG) share their impressions and experiences from their collaboration to date.
WINVEST has chosen QuantArea as its partner for the newly launched smartF® Equity Switzerland Enhanced Fund. What was the origin of this collaboration?
Stefan Rammelmeyer: When I joined WINVEST, it was clear that we wanted to make our investment process more systematic, robust and scalable without compromising on our values, such as customer focus and transparency. To achieve this, we needed a strong technology partner who understood our philosophy. This is why we entrusted QuantArea with the portfolio construction mandate.
Marcel Masshardt: We asked ourselves: How can we make our portfolio construction expertise available to asset managers in a flexible, efficient and pragmatic way? The idea for ‘Quant-as-a-Service’ was born. In WINVEST, we found a team open to developing something new with us. From the outset, our relationship was not that of a classic client-service provider, but a partnership.
What exactly is Quant-as-a-Service?
Marcel: Essentially, we provide our clients with access to comprehensive infrastructure and quantitative expertise, including data preparation, factor calculations, portfolio optimization and risk analysis, so they don’t have to develop all of this internally themselves. Distribution, on the other hand, is managed solely by WINVEST ASSET MANAGEMENT AG, with no involvement on our part.
Stefan: For us, this means that we can implement a systematic investment strategy based on comprehensive fundamental and market data—while remaining lean and efficient. Our strengths lie in customer contact, trading, and monitoring. We work with QuantArea on everything that is highly data-driven. This division of labor makes us faster, more flexible—and ultimately better.
smartF®: What’s behind this concept?
Stefan: Our smartF® investment concept is systematic, forecast-free and data-driven. Using objective key figures and systematic portfolio optimization, we create a focused portfolio with compelling characteristics. Our goal is to avoid emotional decision-making and achieve an optimal risk/return ratio. To this end, we focus on profitable companies with solid balance sheets that are attractively valued.
Marcel: In addition to the characteristics mentioned by Stefan, the model controls for unwanted factor tilts, such as potential negative momentum exposure. It also optimises diversification by estimating the covariance matrix.smartF® demonstrates how modern asset management can work: better solutions at lower costs by splitting up the value chain and involving specialists. The smartF® model was developed exclusively for WINVEST ASSET MANAGEMENT AG. In the context of other mandates, we also calculate additional Swiss equity models. Each model has its own distinct characteristics and is tailored to meet the specific needs of individual clients.
What has happened in recent months – and what comes next?
Stefan: It is impressive to see how much smartF® has helped us to advance strategically. With our first fund (Swiss equities), we were able to strengthen our position as an asset manager, streamline our processes and attract new clients. Consequently, we now count various pension funds among our clients. The fund’s performance has also been impressive, confirming the strong results of long-term backtesting. Since the beginning of 2025, the fund has achieved an excess return of around 5% compared to the Swiss Performance Index (as of 31 July 2025), and it is also ahead of almost all the peer funds we are aware of. We plan to launch the next fund, based on the same smartF® investment concept, for the European equities ex-Switzerland universe before the end of the year.
Marcel: For us, working with WINVEST meant entering the market in December 2024. We now also count banks and insurance companies among our Quant-as-a-Service customers. Within the framework of a mandate, we value working together as equals with shared goals. Thank you, Stefan! We look forward to continuing our collaboration with the WINVEST team.