April 2025

César Pérez Ruiz, Chief Investments Officer Pictet Wealth Management. 3 THINGS TO KNOW The US tariffs announced on 2 April are the biggest trade shock the world has seen in 100 years and the risk of recession in the US has increased substantially. A tectonic…

In late March, the ODDO BHF Asset Management Private Assets team conducted the final closing of its ODDO BHF Technology Opportunities fund, raising almost 200 million euros. The Fund received the support from European family offices and institutional investors, French, German and Swiss ones in…

Didier Bouvignies, General Partner, CIO Rothschild & Co Asset Management. Having recovered from Covid-19 and weathered the repercussions of the Russo-Ukrainian conflict, American and European equity markets, which recorded respective performances of 97% and 52% after these periods, can they now withstand Donald Trump’s new trade…

Trade war César Pérez Ruiz, Chief Investments Officer Pictet Wealth Management. President Trump announced sweeping tariffs, which Canada and China quickly met with retaliatory measures, raising the spectre of a full trade war. China is already probing a US chemicals giant as economic relations become more hostile.…

Prof. Dr. Jan Viebig, Chief Investment Officer ODDO BHF Asset Management. For investors, the current market environment requires two apparently contradictory virtues: first, the ability to react quickly to changing conditions and, second, solid convictions to stay the course in the face of uncertainty. Major…

Tilo Wannow, ODDO BHF Asset Management. Capital markets have undergone a complete turnaround. At the beginning of the year, US equities were in demand, but with the inauguration of Donald Trump, market sentiment shifted radically in the other direction and European equities, which had previously…

Trump tariffs César Pérez Ruiz, Chief Investments Officer Pictet Wealth Management. President Trump said he was placing 25% tariffs on auto imports to foster domestic manufacturing, raising market concerns about a global trade war and sending US equities lower. The auto tariffs, which are growth negative and…

Steve Huguenin-Virchaux, Head of Total Return Equities CPM and Business Strategy Pictet Asset Management. In an era of volatile markets and lower yields, hedge funds offer diversification, with the potential of improved returns and downside protection. Hedge funds are firmly back on investors’ radar– and…

Prof. Dr. Jan Viebig, Chief Investment Officer ODDO BHF Asset Management. "US President Donald Trump has made good on his threat and sharply increased tariffs on imports into the US." In our view, these measures are harmful and risky for two reasons: 1) By unilaterally…

With China's economic recovery gathering strength, we expect emerging market stocks and bonds to fare better than their tariff-hit developed market peers over the coming months. Asset allocation: Trump policies give emerging markets the upper hand Financial markets risk losing their bearings. Primarily because the…