News

Summer doldrums! Following a five-month stretch of rising global stock prices, equity markets fell back slightly in August. After a better-than-feared earnings report season, investors re-focused on macro events. The tug-of-war in opinion regarding future central banks rate hikes, significantly higher yields on long-term government bonds, as well as worries over developments in the Chinese […]

Rates, recession and a Russian uprising! After the dominating themes in May; the US debt ceiling on one hand and the brilliant prospects of Artificial Intelligence on the other, evaporated from investor’s minds and central banks’ policies and the risk of a looming recession took center stage in June. Following a fantastic first half of […]

Susanna Urdmark, Co-head and senior fund manager, has decided to leave the firm after six years to pursue other opportunities. Susanna will leave her position during summer. “I would like to thank Susanna for her important contribution to the fund’s successful development, and wish her all the best on the journey ahead”, says Henrik Rhenman, […]

Strong earnings beat weak regional banks! Following the collapse of Silicon Valley Bank and Credit Suisse in March, market action was dominated by fears of a full-blown bank crisis not seen since 2008. As these fears successively subsided, even though problems remained for some regional banks such as First Republic, investors in April choose to […]

During the latter part of 2022 and in the first two months of this year, bank shares performed strongly on the perception that higher interest rates generally improve bank earnings. However, that view came to a screeching halt when Silicon Valley Bank went under in a matter of a few days and was taken over […]

Inflation and war once again made the headlines in February. Throughout a dismal 2022, when investors had to accustom themselves to the horrors of war and a steep increase in the price of money, their exposure to risk assets was successively reduced. With a relatively low participation level at the end of the year, the […]

MONTHLY SUMMARY What a difference a month makes! While December posted a large drawdown in stock prices, January saw one of the strongest starts of a year ever. The widespread pessimism and hence relatively low equity exposures at the end of 2022 quickly changed into a risk-on sentiment, much to the chagrin of many large […]

Interest rates, recession risks and earnings downgrades weighed down on investor sentiment in December. The much-anticipated Christmas rally did not materialize and equities fell during the month, closing out 2022 as the worst year since the global financial crisis of 2008. As had been the case for most of the year, the drawdown was once […]

Rhenman & Partners hires Amennai Beyeen as biopharma analyst. Amennai will have a particular focus on biopharma companies and the development of new drugs and treatments. He will be working closely with all colleagues of Rhenman & Partners’ five-person investment team, all based in the firm’s Stockholm office. Most recently Amennai comes from Novartis, where […]