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Over the past 15 months, most asset classes have put in positive performances. However, we’ve entered a transitional phase marked by rising volatility, political risks, and market dissonance. To navigate this shifting landscape, we have reduced our global equity exposure and increased our conviction on hedge funds, as alternative investments are well-positioned to capitalise on current market uncertainties.

Earlier in August, global equity markets tumbled due to disappointing US macro data and the unwinding of the Yen carry trade. However, as we expect elevated market volatility until the US Presidential election in November, it may be premature to consider buying the dip.

Summer is in full swing, and with it comes first-half results season for Swiss banks. These announcements can sometimes seem like an alphabet soup, with terms like CET1, LCR and NSFR representing financial ratios that are meant to help assess a bank’s solvency.

The attempted assassination of Donald Trump, Joe Biden's withdrawal from the race, and the rise of Kamala Harris: unexpected twists have emerged in the US presidential election. 

Union Bancaire Privée, UBP SA (UBP) and Societe Generale announced today that they have entered into two exclusive agreements whereby UBP will acquire Societe Generale’s Swiss private banking activities (Societe Generale Private Banking Suisse) as well as their UK and Channel Islands wealth management arm (SG Kleinwort Hambros). Both transactions are expected to be completed by the end of the first quarter of 2025. 

We recently concluded a series of dynamic mid-year Investment Outlook events in key global cities, all with the theme of “Back to the Future.” 

Union Bancaire Privée’s net profit rises by 24.6% to CHF 138.1 million

In early 2023, Nicolas Barben was appointed UBP’s Group Head of ESG Solutions within the Wealth Management division. We spoke to him about the role of regulation, the evolution of client interest in sustainability, and the performance of sustainable solutions, as well as his top priorities.

Equity markets rallied during the first half of the year, driven by earnings growth, a macro backdrop that was more resilient than expected, and continued appetite for AI winners (the “Magnificent 7”). Looking ahead, we anticipate a broadening of equity markets’ leadership. Read more about our insights in the July edition of UBP’s House View.