We attended UBS’s Global Healthcare Conference 2015 from May 18th to May 20th in New York. CEOs and CFOs of roughly 150 companies presented their companies to the investor community followed by question and answer sessions.
Below we reflect on some of our broader sector takeaways from this conference. We left New York more optimistic than ever regarding the future of the healthcare sector, despite a volatile macro environment.
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.
Healthcare started 2021 on a very positive note, outperforming most of the other sectors (Energy, 3.0%, being the sole exception). The MSCI World Healthcare Net Return (NR) Index gained 1.1% in January 2021, while the MSCI World NR Index declined 1.0%.
The MSCI World Healthcare Net Return (NR) Index rose by 9.0% in November 2020 and the MSCI World NR Index gained 12.8%. November was the best month for global equities year-to-date (12.8%), with cyclicals outperforming defensive sectors.