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).
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.