Swiss Life Asset Managers honours the best theses on financial topics

26 Bachelor's and Master's theses on financial issues from universities of applied sciences across Switzerland were nominated for the 2024 Swiss Life Thesis Award. A jury of experts rated four theses as outstanding. The winners received the coveted award on Tuesday evening at Swiss Life’s head office in Zurich as well as a cash prize for their outstanding performance.

Stefan Mächler, Chief Investment Officer of the Swiss Life Group, paid tribute to the graduates’ achievements at yesterday’s prize-giving ceremony: “You have investigated a large number of current challenges and developments on the financial markets and in the financial services industry. You have demonstrated an impressive ability to present academic research topics in both a practical and clear manner.” Prof. Philipp Lütolf, jury member and lecturer at the Institute for Financial Services Zug (IFZ), part of Lucerne
University of Applied Sciences and Arts, also praised the excellent quality of the theses: “I am particularly pleased that the universities of applied sciences have again submitted 26 outstanding Bachelor’s and Master’s theses this year – a balanced mix of research and practice-oriented assignments. It is very important that students deal intensively with complex financial issues and economic relationships. Their work is not only useful for practice, but also provides valuable momentum for research. All nominees can be very proud of their performance.”

Review of the award winners

Yannis Pieren, from Sutz-Lattrigen, a graduate of Lucerne University of Applied Sciences and Arts, addressed the risk profiling of robo advisors – digital automated platforms that offer algorithmic financial advice – in Switzerland. He studied 12 robo advisors, mainly start-ups, but also those of established banks. The comparison group comprised conventional investment solutions from eight banks, risk profiling by a specialised Australian financial services provider and a study of foreign robo advisors. The jury’s verdict: “It is particularly noteworthy that the objective of the thesis is clearly defined and that the questions are answered precisely. The literature review is focused, practical and very well integrated in the reasoning. The careful definition of risk profiles and their instructive comparison with the equity exposure adds value to the thesis.” Yannis Pieren was awarded the Swiss Life Thesis Award in the Bachelor's category, worth CHF 5000.

Moritz Leon Schroeter, from Tägerwilen, a graduate of Zurich University of Applied Sciences, investigated the valuation of lookback options, a type of exotic financial derivative, in his Bachelor’s thesis. He used a Heston model for stochastic volatility and applied the finite difference method to develop corresponding valuation models in Python. “The Bachelor’s thesis stands out due to its excellent stylistic expression and demonstrates in-depth knowledge in the valuation of exotic derivatives and the ability to successfully implement complex methods in Python.” The jury acknowledged this work with an Honourable Mention in the Bachelor’s category, worth CHF 2500.

In his Master’s thesis, Sven Koch, from Wohlen, a graduate of Lucerne University of Applied Sciences and Arts, analysed how crypto assets influence the performance of diversified portfolios and the
importance of rebalancing in this connection. The jury’s verdict: ”This Master’s thesis deals with a highly relevant contemporary topic, particularly in the area of asset allocation and rebalancing strategies,
with a particular focus on crypto assets. The thesis stands out due to its explicit contribution, with precise and clear presentations of the results. It is excellently written – sometimes very detailed, but always summarised in a meaningful way, which helps to provide enhanced orientation. All in all, it is a very well thought-out piece of work that analyses a clear research question and answers it convincingly.”
With this thesis, Sven Koch earned the Swiss Life Thesis Award in the Master's category, worth CHF 5000.

Zef Gjergji, from Märwil, a graduate of Zurich University of Applied Sciences, investigated the replication of hedge funds using trend-following strategies. The jury’s verdict: “The thesis stands out due to its clear and comprehensible style and offers a well-founded summary of the empirical literature. Particularly noteworthy is the variety of checks of the results and the use of innovative methods going beyond the basics of the literature used such as lasso regression.” The author received the Honourable Mention in the Master’s category, worth CHF 2500.

The prize winners’ institutions each receive CHF 1500 for a Swiss Life Thesis Award and CHF 1000 for an Honourable Mention.

About the Swiss Life Thesis Award

Each year, the Swiss Life Thesis Award, in collaboration with the Institute of Financial Services in Zug (IFZ),
part of Lucerne University of Applied Sciences and Arts, and Finanz und Wirtschaft, promotes innovative and practice-oriented research work at Swiss universities of applied sciences on topics such as financial investments, financial markets, financial services companies, financial instruments and corporate finance. The best theses are awarded the prize in recognition of the students’ achievements.

Swiss Life Thesis Award jury members

Prof. Philipp Lütolf, lecturer at the Institute of Financial Services in Zug (IFZ), part of Lucerne University of Applied Sciences and Arts

Philippe Béguelin, Head of Markets Department, Finanz und Wirtschaft

Claudia Bernasconi, Head of Current Account at the Swiss National Bank (SNB)

Rita Fleer, Economist Quantitative Analysis, Swiss Life Asset Managers

Dr Peter Kaste, CIO, Swiss Life Wealth Managers

Diego Liechti, Member of the Executive Board of the Nest Collective Foundation

Information

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