Kieger Healthcare Monthly Commentary
Fasten seatbelt for pre-election rollercoaster
In September 2020 the MSCI World Healthcare Net Return (NR) Index returned -1.4%. The MSCI World NR Index decreased by -3.5%. Healthcare extended its outperformance over global equities to 4.6% year-to-date. Over the month, global equities traded choppy. Besides COVID-19 newsflow, the approaching US elections brought some additional volatility to markets. The Healthcare sector, being one of the most politically sensitive sectors, with lot of debates around drug pricing and the Affordable Care Act (ACA), is not new to such trading behaviour before of US elections (see “In the spotlight” on next page).