The anxiety in financial markets has increased noticeably in August. We are all the more convinced of our decision to diversify the portfolio more broadly with the inclusion of gold and insurance-linked securities as well as to underweight equities.
The global economy is no longer in the best of shape. But the fact that the major central banks are changing course so hard is still surprising. Apparently, interest rate cuts lie on the horizon for the second half of the year. This is an extraordinary change of course, inasmuch as the global economic winds are blowing at the pace of their long-term average. We are seeking explanations for this overly cautious route.
Preliminary information: VP Bank increases first-half earnings by around 20 per cent
VP Bank Group is expecting group net income for the first half of 2019 to be substantially higher than the corresponding period of the previous year at around CHF 35 million (as at 30 June 2018: CHF 29.3 million).
VP Bank and Hywin Wealth sign Memorandum to enter into Strategic Collaboration
VP Bank Ltd (Liechtenstein) and Hywin Wealth Management Co. (China), respected pure play wealth managers, announced today their intention to jointly establish a Hong Kong based collaboration platform to meet the demand of wealthy Chinese for sophisticated wealth management services on- and offshore.
At a mature phase of the market cycle, investors are more than usually in need of a compass to guide their decisions. Navigation is especially tricky at present, but careful analysis will help investors to plot an appropriate course.
Paul H. Arni set to be the new CEO of VP Bank Group
The Board of Directors of VP Bank has appointed Paul H. Arni as the new CEO of VP Bank Group. Paul Arni will be taking up his position on 1 October 2019. Until then, Dr Urs Monstein, Chief Operating Officer of VP Bank, will continue to exercise the CEO function on an interim basis.
Just in time for the end of the first half of the year, stock markets have moved higher again. This has been one of the best semesters in stock market history. However, as the economic outlook for the rest of the year has deteriorated, we are realising some of the profits and reduce equity risk in the portfolios.
VP Bank’s buyback of shares on the standard trading line completed
VP Bank has completed the share buyback programme on the standard trading line on SIX Swiss Exchange launched on 27 June 2018. As of 28 June 2019, the Bank holds 9.58 per cent of its own share capital.
The global economy is no longer in the best of shape. But the fact that the major central banks are changing course so hard is still surprising. Apparently, interest rate cuts lie on the horizon for the second half of the year. This is an extraordinary change of course, in as much as the global economic winds are blowing at the pace of their long-term average. We are seeking explanations for this overly cautious route.