07.07.2016

SSPA market statistics Q1: moderate growth in sales and trend towards products on a fixed-income basis

Quarterly market statistics published since the beginning of 2016 include listed as well as non-listed structured products; the figures provide a comprehensive overview of developments in the Swiss market.

Important conclusions (Q1 2016):

  • At about CHF 66.2 billion, total Q1 sales this year were a moderate 1% higher than in 2015.Marktstatistik
  • There were shifts compared to the previous year in product groups as a percentage of the total: Yield enhancement products accounted once again for the lion’s share at 59%, followed by leverage products (16%). Despite a relative year-on-year decline of nearly 50%, participation products formed the third largest category with a share of 12% ahead of capital protection products at 8%. The latter saw its growth trend continue with relative growth over the previous year of 175%.
  • Equities and foreign currencies still serve most often as the underlying assets. Equity products remain the largest investment class in spite of dropping from 53% of the total (Q1 2015) to 44%, followed closely by foreign currencies at 43% (previous year: 38%). Fixed income underlyings increased by more than 80% year on year, boosting their relative share of the total to 8.5%.
  • Non-listed products continue to dominate the Swiss market making up 73% of the total, a 5 % year-on-year increase over Q1 2015.
  • Around two-thirds of sales (63.4%) are generated in the primary market, while transactions are almost exclusively executed on the secondary market (nearly 97%).
  • CHF, EUR and USD serve as the main currencies for Swiss structure products, comprising 86% of the sales volume: In a year-on-year comparison, USD became the main currency (more than 35%), whereas EUR and CHF fell as a percentage of the total sales volume to 31% and 19%, respectively.

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