Dufour Capital

What Dufour Capital does

Dufour Capital AG is a FINMA-licensed Swiss asset manager founded in 2011 and headquartered in Zürich, operating a rules-based, systematic investment platform built around its proprietary Market Radar — a daily analysis engine that evaluates over 3,000 global stocks on objective criteria including momentum, breakout signals, and trend strength. The firm offers three integrated strategy tiers: (1) multi-asset mandates (Dufour Protect with 25-75% dynamic equity allocation, Dufour Swiss Equity) implemented primarily via ETFs; (2) global equity strategies with adaptive risk management (Dufour Dynamic Equity Select X10/X20/X30, with 0-100% flexible equity allocation and option-based crisis protection); and (3) sustainable equity strategies combining ESG with momentum-based selection, available through co-branded Swiss funds with Basler Kantonalbank. All products are powered by the same underlying Market Radar and Dynamic Equity Allocation engine, supplemented by an option-based risk overlay.

The firm serves two primary customer segments: private high-net-worth individuals (accessing strategies via mandates at CHF 300,000-500,000 minimums or via no-minimum daily-tradable UBS certificates across CHF/USD/EUR), and institutional investors including banks, family offices, and pension funds (accessing mandates, white-label solutions, and the BKB co-branded funds). Revenue is generated entirely through recurring asset management fees — 1.0% annually on Swiss Equity Select mandates, embedded fees in UBS AMCs, and fund management fees on the BKB Swiss/Global Equity Select funds.

Distribution is multi-channel: direct mandates through custodian banks (VZ Depotbank, SGKB, LGT, Bank Rothschild), exchange-listed certificates via UBS, and FINMA-approved funds distributed through Basler Kantonalbank and the Swissfunddata ecosystem. The firm is led by co-founders Dr. Ryan Held (PhD ETH Zurich, ex-Senior Quant at RMF/Man Investments) and Sascha Freimüller (GMP Harvard, ex-Senior Risk Manager at RMF/Man Group and SwissRe), with board representation from VZ Depotbank AG CEO Marc Weber, and an advisory relationship with former Morgan Stanley Executive Committee member Paul Kimball.

Name

Dufour Capital

Legal name

Dufour Capital AG

Website

https://dufour-capital.ch

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

1–10 employees

Short description

Dufour Capital is a FINMA-licensed Zürich-based systematic asset manager serving Swiss private and institutional clients with rules-based equity and multi-asset strategies distributed via mandates, UBS certificates, and BKB co-branded funds.

Ownership category

akta.pro rank

Product category

Systematic Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Institutional Separate Accounts & SMAs (Mandates) (FSAAAGAL)

akta.pro secondary industry

Target-Risk / Risk-Managed Allocation Funds (FSAAAEAG)

Keywords

• Systematic asset management
• Rules-based investment strategies
• Wealth management mandates
• Quantitative portfolio management
• Structured equity products

Headquarters

HQ city

Zürich

HQ country

Switzerland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Asset Management / Wealth Management Mandates: Annual management fees charged on assets under management (AUM). Minimum investment of CHF 500,000 for discretionary mandates, with personalized advice, regular reporting, and tailor-made solutions. Fee of 1.0% per year for Swiss Select mandates.
2. UBS Certificates (AMCs): Exchange-listed certificates (AMCs) issued via UBS with no minimum investment requirement, daily tradable. Revenue generated through management fees embedded in the certificate structure.
3. Co-branded Swiss Funds (with BKB): FINMA-approved Swiss funds co-developed with Basler Kantonalbank, available for both institutional and retail investors. Revenue through fund management fees.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Dufour Capital AG is a FINMA-licensed Swiss asset manager that delivers systematic, rules-based investment strategies to private clients and institutional investors. Its core offering spans discretionary wealth management mandates (CHF 300,000–500,000 minimum), UBS exchange-listed certificates (no minimum, daily tradable), and co-branded Swiss funds (with Basler Kantonalbank). All strategies are powered by a proprietary Market Radar technology that daily analyzes over 3,000 global stocks and dynamically adjusts equity allocation with option-based crisis protection.

Product overview

Dufour Capital is a FINMA-licensed Swiss asset manager offering a unified platform of systematic, rules-based investment strategies accessible through three product formats: wealth management mandates (minimum CHF 300,000-500,000), UBS certificates (no minimum, daily tradable), and FINMA-approved funds (institutional and retail). The core products span three integrated strategy tiers: (1) Multi-Asset Portfolios — Dufour Protect (CHF) and Dufour Swiss Equity (CHF) mandates with dynamic 25-75% equity allocation implemented via ETFs; (2) Global Equity Strategies with Risk Management — the Dufour Dynamic Equity Select X10/X20/X30 certificate family offering flexible 0-100% equity allocation with option-based crisis protection; and (3) Sustainable Equity Funds — Swiss and Global equity funds developed with Basler Kantonalbank (BKB) combining ESG with systematic momentum selection. All strategies are powered by the proprietary Rule-Based Market Radar — a daily systematic analysis engine that evaluates over 3,000 global stocks and drives adaptive allocation decisions across all portfolios. Strategies are flexible to access via custodian banks (VZ, SGKB, LGT, Bank Rothschild), UBS certificates (ISIN-linked), or funds via Swissfunddata.

Differentiator

Problem solved

Functional benefit

Brands

• mytrendradar.com: Informational publication related to market analysis and trend tracking used by Dufour Capital AG.

Products and services

• Dufour Protect (CHF) Mandate Multi-asset portfolio mandate with dynamic equity allocation of 25–75%, implemented exclusively with ETFs. Aims to generate long-term returns comparable to equities with significantly reduced risk of major losses. Includes bonds, precious metals, real estate, and commodities with inflation protection.
• Dufour Swiss Equity (CHF) Mandate Swiss equity mandate combining select Swiss equities with ETFs under systematic, rules-based management. Adapts equity allocation dynamically to market conditions.
• Dufour Swiss Equity Select (CHF) Mandate Rule-based Swiss equity mandate combining momentum and stability factors. Invests in ten equally-weighted Swiss large- and mid-cap stocks, with active risk management that can increase cash allocation up to 50% during crises. Minimum investment CHF 300,000. Annual management fee 1.0%.
• Dufour Dynamic Equity Select X30 (CHF) UBS Certificate Global equity selection strategy with aggressive risk management (X30 designation), available as a UBS AMC certificate in CHF. Flexible equity allocation of 0–100% with integrated crisis protection through option-based mechanisms.
• Dufour Dynamic Equity Select X20 (USD) UBS Certificate Global equity selection strategy with moderate risk management (X20 designation), available as a UBS AMC certificate in USD. Invests in 10–30 globally selected stocks with systematic risk management and adaptive equity allocation.
• Dufour Dynamic Equity Select X10 (CHF) UBS Certificate Global equity selection strategy with conservative risk management (X10 designation), available as a UBS AMC certificate in CHF. Offers balanced approach with lower volatility through defensive stock selection.
• Dufour Dynamic Equity Select X20 (EUR) UBS Certificate Global equity selection strategy with moderate risk management (X20 designation), available as a UBS AMC certificate in EUR. Launched in 2025, expanding the X20 certificate availability to European investors.
• Dufour Capital / BKB Swiss Equity Select (CHF) Fund Sustainable Swiss equity fund developed in partnership with Basler Kantonalbank. Combines ESG principles with momentum-based stock selection. Available in institutional and retail versions. Ranked among top products by Citywire (Top 1–3 depending on time horizon).
• Dufour Capital / BKB Global Equity Select (CHF) Fund Sustainable global equity fund developed in partnership with Basler Kantonalbank. Full 100% equity allocation with sustainability focus and systematic selection approach. Available in institutional and retail versions.

Quantifiable outcome

• Dufour Dynamic Equity Select X20 (USD): +97% return since August 2022 launch vs. +45% for MSCI World Index in the same period
• +3 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• VZ VermögensZentrum / VZ Depotbank AGcoreStrategic or Co-development PartnerStrategic partnership for rules-based investment strategies and new technologies. Marc Weber, CEO of VZ Depotbank AG, serves on Dufour Capital's board. VZ Depotbank AG serves as custodian bank for mandate implementations. Intensive joint research and development of rules-based strategies since 2016.
• Basler KantonalbankcoreStrategic or Co-development PartnerStrategic cooperation in the field of institutional asset management. Co-development of sustainable equity funds (Dufour Capital / BKB Swiss Equity Select and Dufour Capital / BKB Global Equity Select) available in institutional and retail share classes. Funds are FINMA-approved and ranked by Citywire.
• Family Offices & PensionskassenminorChannel Partner/ Reseller/ DistributorCustomized systematic strategies offered as diversification within existing portfolios of family offices and pension funds. Strategies managed according to same principles as company's own investments.
• UBSminorChannel Partner/ Reseller/ DistributorUBS issues exchange-listed certificates (AMCs) for Dufour Capital's Dynamic Equity Select strategies (X10/X20/X30) in CHF, USD, and EUR. Certificates are available for direct investment via ISIN numbers with no minimum investment and daily tradability.
• LGTminorChannel Partner/ Reseller/ DistributorLGT serves as one of the custodian banks for implementing wealth management mandates alongside VZ Depotbank AG, SGKB, and Bank Rothschild.
• Bank RothschildminorChannel Partner/ Reseller/ DistributorBank Rothschild serves as one of the custodian banks for implementing wealth management mandates alongside VZ Depotbank AG, SGKB, and LGT.
• SGKB (St. Galler Kantonalbank)minorChannel Partner/ Reseller/ DistributorSGKB serves as one of the custodian banks for implementing wealth management mandates alongside VZ Depotbank AG, LGT, and Bank Rothschild.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Quantica Capital: Swiss quantitative asset manager offering systematic equity strategies. Closely comparable to Dufour Capital as a Switzerland-based boutique with rules-based equity selection and multi-asset strategies.
• GAM Investments: Swiss-listed asset manager with systematic and discretionary equity strategies. Directly comparable to Dufour Capital in offering systematic equity selection and multi-asset solutions to both institutional and retail investors, though with broader product range and larger distribution.
• OLZ (Oligo Asset Management): Swiss systematic asset manager offering rule-based portfolio strategies. Directly comparable to Dufour Capital as a Switzerland-based quant manager with similar systematic equity and multi-asset offerings to private and institutional clients.

Broad incumbents

• iShares (BlackRock): Global ETF provider including factor and Smart Beta equity strategies. Comparable to Dufour Capital as a systematic, rules-based equity provider; the founders contributed to the BlackRock Smart Beta Guide, evidencing methodological overlap, though iShares competes via passive scale and lower fees.
• Man Group / AHL: Global systematic asset manager with the AHL quantitative unit, where Dufour Capital's co-founders previously worked. Comparable to Dufour Capital in applying systematic, rules-based approaches to global equity and multi-asset portfolios, though at vastly greater scale and product breadth.
• Pictet Asset Management: Large Swiss private bank's asset management arm with systematic and thematic equity capabilities. Comparable to Dufour Capital in serving Swiss institutional and private clients with rules-based strategies, though at much greater scale and product breadth.
• Lombard Odier Investment Managers: Swiss private bank's asset management arm offering systematic and discretionary strategies. Comparable to Dufour Capital in serving Swiss HNW and institutional clients with rules-based mandates and funds.
• Vontobel Asset Management: Large Swiss asset manager offering systematic and discretionary strategies across asset classes. Comparable to Dufour Capital as a Zurich-based Swiss manager serving institutional and private clients with both active and quantitative approaches, though at vastly greater AUM scale.

Regional players

• Finpension: Swiss digital wealth manager offering systematic ETF portfolios for retirement and private investors. Comparable to Dufour Capital's retail mandate and certificate distribution in providing Swiss-domiciled systematic portfolio solutions, though passive-ETF-based rather than active equity selection.

Emerging players

• True Wealth (Swiss Robo-Advisor): Swiss digital wealth manager offering automated, rules-based portfolio management to retail investors. Comparable to Dufour Capital's mandate and certificate channel as a Swiss-domiciled systematic investment provider, though with a pure passive-ETF implementation rather than active stock selection.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dufour Capital