Monthly comment (Apr 25): Healthcare sector impacted by political uncertainty
Monthly comment April was dominated by renewed US-China trade tensions. On April 2nd, the US announced a 10 percent global tariff on all imports into the US, alongside steep ”reciprocal tariffs” of up to 145 percent specifically targeting imports from China. The average tariff rate on imports to the US thus reached its highest level […]
Monthly summary – March 2025: a volatile month, again impacted by the macro-economic and political backdrop
March was a volatile month for the healthcare sector, again impacted by the macro-economic and political backdrop. While the sector ended March in negative territory, it held up somewhat better than many other sectors, protected both by its overall low valuation and by its defensive characteristics. The downward trend in the sector was led primarily […]
Monthly summary – February 2025: Sentiment turned sour in February
MONTHLY COMMENT After a strong start to the year for the healthcare sector, sentiment turned sour in February, which was characterized by political and macroeconomic uncertainties. Equity flows favored defensive stocks, with rotation benefiting the larger pharmaceutical companies, among others. Medtech and biotech were caught on the other side of said rotation while healthcare services […]
Rhenman & Partners strengthens its Operations Team
Rhenman & Partners hires Hampus Tober as Operations Manager. Hampus will have a central position within the organization and close collaborations across the firm. Hampus will report to the Rhenman & Partners’ COO, Mikael Olsson. He will focus on operational and administrative processes, with emphasis on risk and compliance. Hampus joins Rhenman & Partners from […]
Monthly comment – January 2025: All sectors except technology closing in positive territory
SUMMARY For the healthcare sector, the strong market in January was largely a reversal of the weak performance in December. US politics continued to shape the market as a whole, with ”Trump trades” gaining even more traction at the expense of other investment themes. In the healthcare sector, some of the high-level uncertainties in December […]
Monthly comment – December 2024
SUMMARY A challenging ending to a volatile year. December was the healthcare sector’s worst month of the year. The murder of Brian Thompson, CEO of UnitedHealthcare, shocked the sector to its core. Novo Nordisk released the much-anticipated phase III data for CagriSema which missed market expectations, and the stock fell sharply. At the eleventh hour, […]
Monthly summary – November 2024: Once the election results were in, focus shifted torwards likely economic implications
Monthly comment November saw heightened volatility across financial markets, driven by the dramatic US election, Trump’s victory, his controversial cabinet nominations, fluctuating interest rates and currencies, geopolitical tensions as well as the earnings season. Donald Trump secured both the Electoral College and the popular vote. Republicans gained control of the Senate and the House of […]
Monthly summary – September 2024
As in the previous month, September began with a spike in volatility. Mixed economic data, interest rate uncertainties and geopolitical tensions, all added to a weak start. With the benefit of hindsight, after nine out of the past ten months ended in the green, some profit-taking was perhaps to be expected, particularly bearing in mind […]
Monthly summary – August 2024
SUMMARY August started with a spike in volatility. Despite the initial stress, stock markets increased during the month, with the world index up 2.5 percent, measured in US dollars. Several central banks have now signalled their intention to cut interest rates in the coming months. The US election campaign is in full swing with continued […]