Latest news with #EFGAssetManagement
Mint
04-08-2025
- Business
- Mint
European Stocks Rebound, Swiss Stocks Dip on Shock US Tariffs
European shares recovered after sliding by the most since April in the previous session, while the Swiss market retreated as traders had their first opportunity to react to a 39% US export tariff. The Stoxx Europe 600 Index gained 0.9% by the close, with banks and insurance stocks outperforming the most. Automakers and retailers were among the laggards. Switzerland's benchmark SMI Index fell as much as 1.9% before paring declines to 0.2% as trading resumed following Friday's public holiday. The tariff announced last week is one of the steepest globally, and the Swiss government said Monday it was determined to give the US better trade terms as it seeks an improved deal. 'It remains to be seen what impact the Swiss tariffs will have,' said Daniel Murray, chief executive officer of EFG Asset Management. 'This is partly because there is always the possibility that Switzerland is able to negotiate improved terms.' UK lenders rallied after they won a major reprieve in a pivotal UK car finance case. Close Brothers Group Plc jumped 23% while Lloyds Banking Group Plc climbed 9%. Despite Monday's upbeat session, the Stoxx 600 has kicked off August with questions around the impact of US tariffs. In addition to Switzerland, Trump also announced a slate of duties on countries including Canada, New Zealand and South Africa last week. The pharma sector is also in focus as the US president pushes for lower drug prices. The benchmark index could face further volatility as it navigates historically weak seasonal trends over August and September. For more on equity markets: You want more news on this market? Click here for a curated First Word channel of actionable news from Bloomberg and select sources. It can be customized to your preferences by clicking into Actions on the toolbar or hitting the HELP key for assistance. To subscribe to a daily list of European analyst rating changes, click here. With assistance from Sagarika Jaisinghani and Charles Riley. This article was generated from an automated news agency feed without modifications to text.
CNBC
04-08-2025
- Business
- CNBC
The risk of recession in Switzerland has increased, says economist
GianLuigi Mandruzzato, senior economist at EFG Asset Management, discusses U.S. tariffs and their effect on the Swiss economy.
Yahoo
21-07-2025
- Business
- Yahoo
Steering capital toward a sustainable future
In an increasingly crowded ESG investing landscape, EFG Asset Management is aiming to stand apart through a rigorous, integrated and transparent approach. For Melanie Beyeler, Senior Portfolio Manager at EFG, sustainable finance is not only a competitive differentiator, but a long-term shift in how capital is managed and deployed. 'At EFG, we view ESG integration as an essential element of sound risk management,' says Beyeler. 'This means we systematically consider relevant environmental, social and governance factors alongside traditional financial analysis to better manage risks and identify opportunities across all investments.' Rather than limiting ESG to a niche set of products, EFG sees it as a lens that enhances investment decisions across the board. The bank also places strong emphasis on aligning capital with client values and broader societal shifts. 'When it comes to sustainable investing, we focus on areas where we see an opportunity to deliver attractive long-term returns while supporting broader sustainability goals,' Beyeler explains. 'We recognise that our role as an asset allocator on behalf of our clients positions us to channel capital towards solutions that support the transition to a more sustainable economy.' A Systematic Approach This values-driven approach is backed by EFG's proprietary tool - the Global Responsible Investment Platform (GRIP), which plays a central role in evaluating ESG factors throughout the investment process. 'To ensure ESG factors are consistently integrated into our investment process, we use our proprietary ESG measurement tool, GRIP (Global Responsible Investment Platform),' says Beyeler. 'It brings together more than 400 data points and insights from a range of established ESG research providers into one system, providing us with a holistic view of each company's ESG strengths and weaknesses.' The GRIP system helps standardise how EFG evaluates ESG risks and opportunities across companies and sectors, enhancing its ability to construct portfolios that are both resilient and forward-looking. Meeting Generational Demand As ESG themes move from the margins into the mainstream, Beyeler sees a clear rise in client appetite, particularly among younger investors. 'In my experience with clients and supported by recent industry insights, interest in sustainable investing remains resilient with more than 60% of investors reporting increased interest over the past two years,' she notes. A key factor behind this shift is generational wealth transfer. 'Over the next decade, Millennials and Gen X are expected to inherit around $22tn globally – and they expect their bank to offer investment strategies and solutions that align with their values,' she adds. To respond, EFG is expanding its sustainable investing offering with thematic strategies such as clean energy, climate resilience, and gender equality, ensuring the bank keeps pace with changing client priorities. 'At EFG, we see sustainability as secular trend. And we continue to expand our sustainable investing offering to ensure it meets our clients' expectations and priorities - across generations,' she says. Navigating Regulation and Risk The growing demand for ESG investing also comes with increased regulatory scrutiny, particularly around disclosure, transparency, and accountability. Beyeler says the Swiss private banking sector is adapting, but there's more to do. 'The regulatory landscape for sustainable finance has become more rigorous in recent years and continues to evolve,' she says. 'As a Swiss private bank, we recognise that clients, investors and regulators expect greater transparency, stronger governance and reliable data to show how sustainability is managed in practice.' Progress is being made. 'The Swiss private banking sector has made solid progress by increasingly aligning with the voluntary Swiss Climate Scores, improving ESG disclosures, updating governance standards, and helping clients invest more sustainably,' she explains, pointing to collaborative efforts like the 'Sustainable Finance as an Opportunity for Wealth Management' initiative, which brought together more than 20 banks to deepen their sustainability integration. A Long-Term Transformation For EFG, the embrace of ESG is not a box-ticking exercise, it's a strategic shift that will shape the future of wealth management. 'Sustainability is not a passing phenomenon, but a secular trend that will have a lasting impact on the development of the global economy,' Beyeler says. 'Climate change and its physical impacts such as extreme weather events influence how companies assess risks and how they operate.' She adds that sustainability is becoming 'core to how we advise clients, build portfolios and manage risks,' and that for the next generation, 'expertise and an attractive offering in this area is expected from wealth managers.' Embedding Sustainability in Culture Furthermore, EFG's commitment goes beyond investment strategy, it's embedded within its corporate culture and employee engagement. One standout initiative is the partnership with Team Malizia, led by sailor Boris Herrmann, to raise awareness about ocean conservation through the 'My Ocean Challenge' education programme. 'EFG employees can volunteer one day per annum to help raise awareness about ocean conservation partnering with schools around the world,' Beyeler says. Internally, EFG also invests in training to deepen ESG expertise across its teams. 'We continue to provide ESG-related trainings to our employees to analyse risks and opportunities and educate them about our evolving product offering as well as relevant regulatory developments,' she says. 'EFG is convinced that by investing in training and development of our people and by actively fostering employee engagement, we remain the preferred financial partner for our existing and prospective clients, including the next generation.' In a fast-changing ESG landscape, EFG is betting on long-term commitment over short-term compliance. For Beyeler and her team, sustainability isn't just about ticking boxes - it's about building trust and resilience, today and into the future. "Steering capital toward a sustainable future" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mint
24-06-2025
- Business
- Mint
Trump-Hailed Truce Falters With Israel Accusing Iran of a Breach
A ceasefire declared by US President Donald Trump between Israel and Iran is being put to the test in its early hours, after a missile fired into Israel prompted accusations of a breach. Shortly after Trump declared an end to the 12-day war, Israel said it had detected a missile launch from Iran. Defense Minister Israel Katz instructed the military on Tuesday to 'respond forcefully to Iran's violation of the ceasefire with powerful strikes against regime targets in the heart of Tehran.' Iran denied it fired missiles at Israel after the ceasefire came into force, according to the state-run IRIB news agency, which didn't elaborate. The fragile truce followed an extraordinary night in which Tehran retaliated against a US attack over the weekend by launching missiles at an American air base in Qatar. The Islamic Republic's move was telegraphed — with Qatar and the US being forewarned — and there were no casualties. 'THE CEASEFIRE IS NOW IN EFFECT,' Trump said at around 9:10 a.m. Dubai time on Truth Social. 'PLEASE DO NOT VIOLATE IT!' Prime Minister Benjamin Netanyahu later confirmed Israel agreed to a truce and said his country had achieved its war goals in Iran. Oil prices plunged when it became clear Iran's strikes on Qatar caused no fatalities or major damage. Traders took it as a sign that Iran had no intention of escalating tensions with Washington, let alone drag other countries in the oil-rich region into a wider war. Sentiment in oil markets remained optimistic. Brent fell 3.4% to around $69 a barrel on Tuesday, following a drop of more than 7% on Monday. It returned to the level before Israel started attacks on Iran on June 13. 'If the ceasefire holds – and there is no guarantee that it will — it will undoubtedly be greeted positively by markets as it will at the margin reduce uncertainty,' said Daniel Murray, chief executive officer of EFG Asset Management in Switzerland. Lower oil prices will reduce inflationary pressure and 'also help support consumption trends and hence growth overall.' Israel struck targets in Iran early on Tuesday, but the explosions in Tehran seemed to stop at about 4 a.m. local time, the BBC reported, citing local residents. Iranian Foreign Minister Abbas Araghchi said around the same time the Islamic Republic did not intend to continue attacks if Israel's stopped. While Israeli officials remained silent overnight, a senior White House official said Trump brokered the ceasefire in a direct conversation with Netanyahu on Monday. Vice President JD Vance, Secretary of State Marco Rubio and special envoy Steve Witkoff held direct and indirect talks with the Iranians about the proposal, the official said. Israel agreed to the truce as long as Iran did not launch further attacks, and the Iranian government signaled it would abide by those terms, according to the official. The developments came about two days after the US entered the conflict directly by bombing key Iranian nuclear facilities at Fordow, Natanz and Isfahan. Trump said the strikes 'completely and totally obliterated' the sites, though battle damage assessments continue and the whereabouts of Iran's enriched uranium stockpile is unknown. Qatar said the Iranian missile barrage was intercepted and the base had been evacuated in advance. Iran's move on Monday appeared to be 'a largely symbolic retaliation,' said Ziad Daoud, Bloomberg Economics' chief emerging-market economist. 'Plenty of warning was given — Qatar shut its airspace and the US issued warnings to citizens' in the gas-rich country. While Iranian state TV said the missile barrage 'forced a ceasefire on the enemy,' some Iranian officials suggested the move contained a performative element. The number of missiles fired matched the number of bombs deployed by the US against the nuclear sites. Iran was quick to say that Qatar, which has strong relations with Tehran as well as Washington, is a 'friendly and brotherly country.' A diplomat briefed on the talks said Trump had spoken with Qatar's Emir Sheikh Tamim bin Hamad Al Thani and informed him the US got Israel to agree to a ceasefire. Trump asked the Qatari leader for help persuading Iran to do the same. Iran later agreed, according to the diplomat, who asked not to be identified discussing private conversations. Many questions remain, including the state of Iran's uranium stockpile and whether any ceasefire will lead to discussions about Tehran's nuclear program. The Islamic Republic, which has denied it's seeking an atomic weapon, has refused to give up the right to enrich uranium, a condition the US has insisted upon. Iran says it needs to process uranium at least to the low level needed for civilian purposes such as fueling nuclear power plants. Yet the West and Arab states are wary because Iran has enriched the uranium almost to the levels needed to build a bomb, without explaining why. Speaking to Fox News after Trump announced the ceasefire, Vance said the US bombing over the weekend had met its objectives. 'We know that they cannot build a nuclear weapon,' Vance said, adding that Iran's existing stock of highly enriched uranium was 'buried' by the attack. International monitors have said they don't know where that material is after Iran said earlier this month it would move it. 'If Iran is desperate to build a nuclear weapon in the future, then they're going to have to deal with a very, very powerful American military,' Vance said. With assistance from Nicholas Reynolds, Annmarie Hordern, Eric Martin, Natalia Drozdiak, Dana Khraiche, Golnar Motevalli and Eltaf Najafizada. This article was generated from an automated news agency feed without modifications to text.
Daily Tribune
31-05-2025
- Business
- Daily Tribune
India's annual growth hits 6.5%
India's economy grew by 6.5% in the fiscal year that ended in March, official data showed yesterday, among the world's top performers but still sluggish compared with its recent track record. Gross domestic product rose at its slowest pace in four years, with growth coming in well below the 9.2% recorded in the previous financial year. While the economy has rebounded over the past two quarters, helped in part by strong agricultural output, US President Donald Trump's tariff blitz poses risks to a sustained recovery. New Delhi, which wa s slapped with 26% reciprocal tariffs, is currently negotiating a trade deal with Washington that it hopes will spare it the worst of Trump's trade push. "Although India is expected to see its GDP grow 6.5% again in fiscal year 2025-26, there remains a great deal of uncertainty due to Trump's tariff policies," said Sam Jochim, an economist at EFG Asset Management. "The ability of the Modi government to strike a deal with Trump could prove paramount for India's economic outlook." Analysts believe the annual growth figures, along with cooling inflation data, will convince India's central bank to continue its interest rate easing cycle at its review meeting next week. The GDP figures released yesterday were slightly above analyst expectations of 6.3% but matched the government's own projections of 6.5% yearon-year growth. The data for the January-March quarter was brighter, with GDP growing 7.4% year-onyear -- the fastest this fiscal year and beating analyst estimates of 6.8% growth. The National Statistics Office said in a media release that growth in the March quarter was helped by a surging construction sector. Nearing Japan While India is still the fastest-growing major economy, the 2024-25 fiscal year growth figures remain below the 8% pace that experts say New Delhi needs to create enough wellpaying jobs and generate economic prosperity. The slowdown in economic activity over the past year pushed Prime Minister Narendra Modi's government into delivering $12 billion in income tax cuts this year, a move aimed at putting more money in the hands of millions of consumers. The Reserve Bank of India also cut interest rates in February for the first time in nearly five years and delivered another reduction in April. More recently, public debate over the country's economic ascent was triggered after a government official claimed India had surpassed Japan to become the world's fourth-largest economy. Projections by the International Monetary Fund, however, indicate that the switch will not happen until the end of this year. The claim nevertheless prompted swift self-praise from bosses of Indian companies and ruling party lawmakers. Experts also warned that the timeline for India beating out Japan could be delayed by fluctuations in exchange rates. "Our forecasts suggest that India will overtake Japan by the middle of 2026," Shilan Shah of Capital Economics said in a note this week. "But the big picture is that India was always going to overtake Japan -- and also Germany -- given its positive demographics and scope for continued productivity gains."
