The MSCI World Healthcare NR Index returned -2.7% in February, while the MSCI World NR Index rose 2.6%. During the last week of the month, many sectors took a hit because of rising 10-year Treasury rates (now at their highest levels in a year), enhancing on one hand the attractiveness of bonds vs. Equities and on the other hand propelling cyclical stocks.
For this month, our "Chart of the Month” becomes a “Discussion of the Month”. View Urban Fritsche's, Raphael Oesch and Flavio Mancino key takeaways from this month's conferences in the US.
We attended the 43th annual Goldman Sachs Healthcare Conference 2022 from June 13th to 16th in Los Angeles, where we focussed mostly on Medtech and Service companies. We came away convinced that the healthcare sector will once again prove its defensive qualities as the dynamics of the healthcare market are less affected by the current macroeconomic backdrop.
The Kieger Healthcare team attended the Jefferies Healthcare Conference in New York from June 8th to June 10th 2022. This year, the overarching theme was the state of the Healthcare sector in the current cloudy macro environment. Many presentations touched on the pain-points investors are currently dealing with. In general, companies painted a confident picture for the future.