CALIBRA 50
Go above the usual static allocation by harnessing artificial intelligence: 769 distinct allocations in constant competition, within a solid investment foundation.
Why CALIBRA 50?
CALIBRA 50 combines a solid investment foundation, access to diversified passive funds and a cutting-edge algorithm developed by a group of EPFL engineers with over 20 years of experience in institutional asset management.
Innovative
An innovative multi-asset product based on the latest developments in AI, with technology certified by a major audit firm (PwC).
Performance
CALIBRA 50 outperforms Swiss-franc multi-asset products. Its technology has an outperformance track record of almost 6 years (CHF 350 million under management).
Comprehensive
Explores the full range of possibilities within the bands, which no manager would be able to do (769 possible allocations in competition).
Accessible
An easily investable, turnkey solution built on liquid and inexpensive products. Operational risk is limited.
Transparent
Regular reporting on performance and asset management, with full visibility of the strategy.
Solid structure
A partnership with AWI (Anlagestiftung Winterthur), a not-for-profit investment foundation. A tax-efficient investment vehicle.
Key figures
The product at a glance
ISIN CH0009004505
Assets under management target
All-in annual cost
+ 0.15% issuer fee p.a.
Nominal value per unit
Daily subscriptions and redemptions
End of month, or ad hoc when required
Implemented with passive funds
Artificial intelligence at the heart of the strategy
All-weather navigation
Our radar is a battery of algorithms that feeds daily on financial data and questions the portfolio allocation in the wake of changes, most of which escape us due to the limited capabilities of our brain.
The target allocation is split into two parts: a fixed 60% core across 8 asset classes guarantees minimal diversification at all times, while the 40% variable portion (Cortex) is driven by AI across 769 competing allocations, with bands discretised in 5% steps.
The strategy is based on FUNDO's proprietary Cortex model, implemented exclusively through passive funds, primarily from UBS. FUNDO has been supervised by FINMA as a manager of collective investments since 2012.
Objective: constantly minimise regret by remaining optimally invested at all times. In asset management, anything that is not accumulated is lost — there is as much risk in not winning as in losing.
Alternative allocations in constant competition
Annualised return of the AI solution (2013-2026)
Annualised return, net of trading costs and TER (55 bps)
Allocation range across the variable portion (40%), versus 75% for a classical allocation
Asset class performance
Total return over the 2013-2026 period
Annualised return comparison
CALIBRA 50 AI solution
Target allocation
Pictet LPP 40
UBS PK Performance
Period under review: 31.12.2013 – 31.08.2026
The annualised return of the various asset classes ranges from −0.3% to 13.7%. On the variable portion, every asset class made a positive contribution over the period.