News

08.06.2017

UBS to sell its Netherlands wealth management activities

The Swiss banking group UBS has agreed to sell its domestic wealth management activities in the Netherlands to Van Lanschot Kempen, an arm of a  Euronext Amsterdam-listed banking group that dates back to the 1700s. Van Lanschot Kempen will pay an initial acquisition price of €28m, a joint statement reported, although the final price “may be higher or lower depending on the [asset management amount] that will actually transfer to Van Lanschot Kempen” once the deal completes.

 
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08.06.2017

Credit Suisse raised $4.3 bn in rights offering

Credit Suisse Group investors agreed to buy 99.2 percent of the shares on sale in a rights offering, providing 4.1 billion Swiss francs ($4.3 billion) for Chief Executive Officer Tidjane Thiam’s turnaround plan.

 
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07.06.2017

Pendulum

As a stock picker and value investor I rarely get involved in discussing macro issues during Investment Committees or during meetings with clients. Anyway, since talking about Trump, Macron, volatility and US Non-Farm Payrolls seems to be fund managers’ main occupation, I’ll try my best… But please, as grandpa Warren once told us, always remember:  “Market forecasters will fill your ear but never fill your wallet”. The swings of economies and financial markets resemble the swings of a pendulum. They spend most of the time oscillating near the average, swinging toward or away from the extremes of the arc. But when they reach one extreme you can be sure that sooner or later they are going to swing back to the midpoint. That’s because the effort needed to reach the extreme is the premise for the swing back. It goes without saying that investors don’t have to get caught in that movement (…and hopefully profit from that). But, and there is one big fat “BUT”: no one can constantly and correctly predict the timing of the “swing back”. The only thing that we can do is trying to figure out what the market conditions are at present.  In better words: “We may never know where we’re going, but we’d better have a good idea where we are” (H. Marks).

 
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07.06.2017

Emerging markets corporate debt: coming of age

Here’s an asset class that continues to defy the odds. Despite concerns of high debt levels, growing geopolitical risks and sluggish global growth, emerging markets (EM) corporate debt has once again delivered another year of impressive results. This year sees a continuation of many of the same challenges, not least the uncertainty over what Donald Trump’s US presidency will look like. Anyone hoping that Trump’s campaign promises were just talk won’t have been overly encouraged by his first week in the White House. The Republican has already signed two proclamations, seven executive orders and seven presidential memoranda. His decision to ban the entry of citizens from seven predominantly Muslim countries has ruffled more than a few international feathers, while his pledge to renounce the Trans-Pacific Partnership (TPP) trade deal – a signature policy of Obama – has also raised eyebrows.

 
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07.06.2017

Swiss economy to rise in 2017, global outlook improved

On Wednesday OECD released the global economic outlook in Paris. According to its forecasts over Switzerland, GDP growth is projected to rise gradually, which will reduce unemployment. The low interest rate environment is set to continue, helping to revive domestic demand. Deflation seems to have been overcome, but inflation is projected to remain low through 2018. The large current account surplus will persist.

 
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07.06.2017

Sustainable investment is a key driver for Swiss asset owners

The value of sustainable investments held by Swiss asset owners almost doubled in the past year, according to a survey by Forum Nachhaltige Geldanlagen (FNG), the association for sustainable investments in Germany, Switzerland, and Austria, which reported that sustainable investments grew to CHF104bn (€95.8bn) as of year-end 2016, compared to CHF55bn a year earlier.

 
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07.06.2017

The safe response for investments in precious stones and metals

The forecasts by the World Gold Council, in the Metals Focus Database of Mines, suggest irreversible trends: extracting gold, just like extracting diamonds, will be increasingly costly and difficult.

 
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07.06.2017

Switzerland is working for more free trade

Switzerland is supporting free trade and globalization as the means to make the Swiss economy more prosperous and intends to extend the number of such agreements in the near future, Joerg Gasser, Switzerland's State Secretary for International Financial Matters at the Federal Department of Finance (FDF), told media on Friday on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

 
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07.06.2017

Santander to takeover Banco Popular for €1

Spain's Banco Santander said Wednesday it will take over struggling Banco Popular Espanol for the symbolic price of 1 euro, creating the country's largest bank by lending and deposits, according to a press statement.  "This means that Banco Popular will operate under normal business conditions as a solvent and liquid member of the Santander Group with immediate effect," the board said.

 
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06.06.2017

Apple helps to drive safe with Do Not Disturb feature

Apple unveiled a host of new products, updates and software features at its annual Worldwide Developer's Conference (WWDC) on Monday, and one of them could potentially save lives. The upcoming iOS will include a feature called 'Do Not Disturb While Driving" that will make it easier to avoid texting while driving. By all indications, it's rather simple tool from a technological standpoint — but if it works as advertised, iPhone's 'Do Not Disturb' feature could prevent car accidents and traffic fatalities, which is more than enough to make it a worthwhile update.

 
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Events


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    Only a little more than half a year is remaining until implementation of PRIIPs and MiFID II, and th

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    Jun

    Lo Shipbrokers and Shipagents Dinner è uno degli eventi più importanti nel panorama mondiale della

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    Within the framework of this presentation, Viktor Pershikov, MFTA, (a leading technical analyst in R

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    One of the biggest conferences in Switzerland, which brings together the private equity, venture cap

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    Within the framework of this presentation, Viktor Pershikov, MFTA (a leading technical analyst in Ru

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