Dan Sundheim of D1 Capital Partners has implemented significant changes following two years of substantial losses, including a 31% drop in January 2021 due to meme stock volatility and a 34% loss in 2022. Since June 2022, the firm has reduced risk exposure and diversified its portfolio, resulting in an 85% gain over 28 months, with a strong Sharpe ratio of 2.8. Despite the public portfolio's recovery, private investments continue to face challenges amid a downturn in the venture capital market.
Liechtenstein commemorated 100 years of the Swiss franc on September 2, 2024, with a souvenir sheet featuring a 3.90-franc stamp designed with a gold-foiled coin motif. The sheet's selvage displays Helvetia from the 1907 Swiss National Bank's 100fr banknote. This currency transition from the Austrian krone to the Swiss franc, formalized in 1924, stabilized Liechtenstein's economy and strengthened ties with Switzerland.
The 2024 Healthcare Finance and Growth Conference highlighted the growing influence of social media on healthcare decisions, the expansion of telehealth, and increasing antitrust scrutiny in the industry. Key discussions focused on the need for robust compliance programs amid rising cybersecurity threats and the evolution of value-based care models. As healthcare entities navigate these challenges, proactive strategies and stakeholder communication are essential for success.
Countries can halve premature death rates by 2050 by targeting 15 key health threats, primarily tobacco use, according to a Lancet Commission report. The report emphasizes the need for public financing of essential medicines and highlights the importance of high tobacco taxes as a critical policy tool. With a 23% chance of a pandemic similar to COVID-19 within the next decade, the urgency for improved health systems and preparedness is paramount.
UBS has decided to discontinue the political donations previously made by Credit Suisse, which amounted to one million francs annually, leaving parties like the SVP and PLR facing significant financial losses. In 2023, Credit Suisse contributed 450,000 francs before its takeover, while UBS has increased its own donations to 750,000 francs but does not plan to replace the lost contributions. This shift is particularly challenging for bourgeois parties that rely heavily on such donations, especially in an election year.
Assenagon has expanded its sales team with the appointment of Marc Fankhauser as Sales Director in Zurich, effective October 1, 2024. Fankhauser, who specializes in advising German-speaking clients, brings extensive experience from Evooq and Vontobel, along with a Chartered Alternative Investment Analyst (CAIA) qualification. He is the fifth sales hire this year, reflecting the company's growth and increased demand for client support in a competitive market.
Swiss regulators have mandated UBS to enhance its emergency preparedness plans. This directive aims to ensure the bank is better equipped to handle potential crises, reflecting ongoing concerns about financial stability in the sector.
Japan Bank for International Cooperation (JBIC) has signed a $150 million credit line agreement with Vietnam Prosperity Joint-Stock Commercial Bank (VPBank), with JBIC contributing $90 million. This funding will support renewable energy and electricity grid projects in Vietnam, aligning with the country's goal of achieving net zero emissions by 2050 and enhancing its power infrastructure. The loan is part of broader initiatives, including the Asia Zero Emissions Community and the Vietnam Climate Finance Framework.
UBS will not receive grades from the Swiss Financial Market Supervisory Authority (Finma) for its stabilization and emergency plans for 2024, as the authority has canceled the annual assessment. This decision comes amid UBS's ongoing integration of Credit Suisse, a process expected to continue until 2026. No new date for the assessment has been announced.
FINMA is mandating UBS to revise its emergency plan to enhance crisis preparedness and ensure financial stability without relying on taxpayer funds. The authority emphasizes the need for more crisis management options and a robust resolution strategy, especially following the Credit Suisse crisis, as UBS integrates CS and faces new challenges.