Switzerland

A tax by any other name…

UBS Latest Views | Mar 22, 2019 at 12:00 AM
  • * In 1945 UK government debt was about 250% of GDP. In 1970 UK government debt was about 50% of GDP. The UK did not inflate its way out of debt. Bond investors can punish a borrower faster than inflation can cut debt ratios. The UK did not really grow its way out of debt. […]

Switzerland

It’s interminable. It’s tedious. Get used to it

UBS Latest Views | Mar 22, 2019 at 12:00 AM
  • * The EU agreed to an automatic two-week extension to the UK-EU divorce. Do not be fooled by deadlines. This is an interminably tedious process because it is interminable (and, obviously, tedious). The UK Parliament is unlikely to pass the government’s withdrawal agreement, which suggests a lengthy delay (and participation in the European elections, with […]

Switzerland

A tax by any other name…

UBS Latest Views | Mar 22, 2019 at 12:00 AM
  • * In 1945 UK government debt was about 250% of GDP. In 1970 UK government debt was about 50% of GDP. The UK did not inflate its way out of debt. Bond investors can punish a borrower faster than inflation can cut debt ratios. The UK did not really grow its way out of debt. […]

Switzerland

It’s interminable. It’s tedious. Get used to it

UBS Latest Views | Mar 22, 2019 at 12:00 AM
  • * The EU agreed to an automatic two-week extension to the UK-EU divorce. Do not be fooled by deadlines. This is an interminably tedious process because it is interminable (and, obviously, tedious). The UK Parliament is unlikely to pass the government’s withdrawal agreement, which suggests a lengthy delay (and participation in the European elections, with […]

United States

BlackRock to Acquire eFront – Industry Leading Alternatives Investment Software Provider

BlackRock | Mar 22, 2019 at 12:00 AM
  • New York, Paris – March 22, 2019 – BlackRock today announced that it has made a binding offer and entered into an exclusive agreement, subject to the conditions below, to acquire 100% of the equity interests in eFront, the world’s leading end-to-end alternative investment management software and solutions provider, from private equity firm Bridgepoint and eFront employees, for $1.3 billion in cash.
  • The share repurchase transaction is expected to close on March 25, subject to customary closing conditions.

Switzerland

UBS on track to meet ambitious sustainability targets; adopts tougher standards on coal finance

UBS | Mar 21, 2019 at 7:00 AM
  • UBS made significant progress in 2018 toward meeting its ambitious targets in sustainable investing, philanthropy, and business sustainability, while further reducing its environmental footprint.
  • As of 31 December 2018, total SI assets represented USD 1,110 billion and core SI assets USD 313 billion, constituting 35.8% and 10.1% of UBS total invested assets respectively.
  • UBS has reduced its carbon-related assets to USD 2.7 billion, down from USD 6.6 billion in 2017, while climate-related sustainable investments increased to USD 87.5 billion from USD 74 billion in the previous year.

Switzerland

UBS on track to meet ambitious sustainability targets; adopts tougher standards on coal finance

UBS | Mar 21, 2019 at 7:00 AM
  • UBS made significant progress in 2018 toward meeting its ambitious targets in sustainable investing, philanthropy, and business sustainability, while further reducing its environmental footprint.
  • As of 31 December 2018, total SI assets represented USD 1,110 billion and core SI assets USD 313 billion, constituting 35.8% and 10.1% of UBS total invested assets respectively.
  • UBS has reduced its carbon-related assets to USD 2.7 billion, down from USD 6.6 billion in 2017, while climate-related sustainable investments increased to USD 87.5 billion from USD 74 billion in the previous year.

Switzerland

The long term

UBS Latest Views | Mar 21, 2019 at 12:00 AM
  • At any time, investment decisions (including whether to buy, sell or hold securities) made by UBS and its employees may differ from or be contrary to the opinions expressed in UBS research publications.
  • UBS Switzerland AG, UBS Europe SE, UBS Bank, S.A., UBS Brasil Administradora de Valores Mobiliarios Ltda, UBS Asesores Mexico, S.A. de C.V., UBS Securities Japan Co., Ltd, UBS Wealth Management Israel Ltd and UBS Menkul Degerler AS are affiliates of UBS AG.
  • External Asset Managers / External Financial Consultants: In case this research or publication is provided to an External Asset Manager or an External Financial Consultant, UBS expressly prohibits that it is redistributed by the External Asset Manager or the External Financial Consultant and is made available to their clients and/or third parties.

Switzerland

The inflation imperative seems less imperative

UBS Latest Views | Mar 21, 2019 at 12:00 AM
  • * The US Federal Reserve surprised markets a little. The fabled dot plot (probabilities, not forecasts) showed a lower chance of a rate rise this year. Whether the chance of no rate rise is 52% or 100% is not known. The Fed signalled a move from passive quantitative tightening (reducing bond holdings) to organic quantitative […]