The MSCI World Healthcare NR Index gained 3.0% in June, while the MSCI World NR Index rose 1.5%. The decline in 10-year yields provided a booster shot to growth stocks, relative to their value peers. It is likely that the next months will continue to be dominated by debates on Fed and interest rates topics, and related growth/value factor pivots. More clarity on tapering can be expected after the summer break and the Jackson Hole summit.
Happy Birthday! Our Kieger Impact Healthcare Fund is turning 1! On this occasion, we are proud to share our Kieger AG Impact Healthcare Report, where we highlight the progress achieved during the past year and reflect on what have been unparalleled times.
“Sell in May and go away, but remember to come back in September” ... or perhaps October? Most stock markets reached new highs in early September, with economies have seemingly finally put the pandemic behind. At such a "cruising altitude," small turbulences can lead to serious corrections – and the month certainly offered plenty.