Monocle 24: The Bulletin with UBS: Recent Episodes
Monocle
Delivering insights into the people, places and products shaping the financial week ahead. Hear from the finest minds and freshest thinkers as they take you beyond the numbers and the hype to get to the heart of the day’s big issues.
The authoritative annual seminar and accompanying survey is based upon views gathered from more than 40 central banks. Max Castelli, head of strategy & advice for global sovereign markets, UBS Asset Management, discusses this year’s findings.
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Jim Mann, UBS Global Visionary and founder & CEO of Undo, tells us about his nature-based carbon removal company and explains how it’s building, scaling and future-proofing fixes for the climate crisis.
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We conclude our special edition exploring the blue economy and ways to support ocean resources that are currently overexploited and underpriced. Featuring The Ocean Foundation’s president, Mark Spalding, and Catherina Campedelli of UBS.
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In the first of two special editions exploring the blue economy, we focus on investments aiming to build a thriving system based on sustainable relationships with ocean resources that are currently overexploited and underpriced.
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UBS marked the US semiquincentennial with a series of reports exploring 250 years of uniquely American innovation. This week, we ask: can the system that has supported US progress continue to hold?
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UBS chief economist Paul Donovan marks the publication of the 2026 UBS Global Wealth Report by talking to 2025 Nobel laureate in economic sciences, Joel Mokyr, about global wealth trends and how technological progress shapes growth.
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UBS economists Paul Donovan and James Mazeau discuss the findings of the 17th edition of the annual report, which has become a crucial reference point on the trends shaping wealth across the world.
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To mark a decade of the UBS programme in which Nobel laureates in economic sciences such as Paul Romer (pictured) share insights to help shape the bank’s thinking, we present a retrospective of 10 of our favourite conversations.
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At the start of the year the question was whether AI and innovation could help markets and economies to overcome the drag of debt, volatility and stubborn inflation. As we enter H2, do we have an answer?
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As Art Basel returns to Basel, we consider how collectors can navigate one of the most important moments in the global art calendar. Featuring experts from UBS Art Advisory alongside artist and Zero 10 co-curator Trevor Paglen.
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A special edition in which Mark Andersen, Marianna Mamou and Anders Lindegaard discuss a new report from the UBS Global Wealth Management CIO about the changing economics and culture of football.
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The report, which surveyed more than 300 clients of UBS in some 30 markets, found that family offices are prioritising resilience, diversification and long-term thematic opportunities in uncertain times.
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Marianna Mamou and Antoinette Zuidweg of UBS discuss the challenges and opportunities presented by the fast-changing face of entrepreneurship. In the US, women now own more than 40 per cent of businesses – but is funding keeping pace?
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Chancen International’s Future of Work Fund offers a potential breakthrough in access to education for young people across Africa. Hear how and why the UBS Optimus Foundation has committed to the cause.
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UBS is counting down to July’s US semiquincentennial with a series of reports exploring 250 years of uniquely American innovation. This week, UBS’s Kevin Dennean discusses the rise and impact of the smartphone.
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As the next generation inherits wealth in an unprecedented transfer, how will their perspectives and preparations reshape markets, institutions and social priorities? UBS head of global next-generation solutions, Anastasia Deryagina, explains.
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Massimiliano Castelli, head of global sovereign markets strategy and advice in UBS Asset Management, explains the disconnect between record-high US equity markets and the ongoing Middle East conflict and rising energy prices.
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UBS expects the space economy to grow to more than $1trn by 2040. What are the key opportunities and risks for investors ahead of this inflection point? With Alex Stiehler and Ashim Thakur.
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Amantia Muhedini of UBS explains how a new report that mapped the investable universe and proposes a “theory of change” approach can help clients to invest through a gender lens and close the gender-wealth gap.
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Kiran Ganesh of the UBS Global Wealth Management CIO joins the show to explain how smart investors can navigate a complex landscape shaped by a convergence of geopolitical and technological factors.
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Banking is UBS’s craft. This is why UBS celebrates inspirational individuals whose mastery mirrors its values: dedication, expertise, passion. Here we meet James Allison, technical director for the Mercedes-AMG Petronas Formula 1 Team.
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Get the picture on the 10th edition of the annual benchmark analysis of the state of the global art market with its author, Clare McAndrew, as well as Art Basel CEO Noah Horowitz and Paul Donovan of UBS.
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How are global entrepreneurs feeling about 2026 and about the future of their enterprises? The second annual UBS Global Entrepreneur Report reveals their optimism – and an appetite for expansion that’s undimmed by geopolitical uncertainty.
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This authoritative asset offers a unique record of real returns across equities, bonds, bills, currencies and now gold – helping investors place market developments in historical context. With professor Paul Marsh and UBS’s Kiran Ganesh.
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Ahead of International Women’s Day we discuss women and the health gap with Marianna Mamou, head of advice beyond investing in the UBS CIO and author of a compelling new UBS report.
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UBS is counting down to July’s US semiquincentennial with a series of reports exploring 250 years of uniquely American innovation. This week, UBS’s Kurt Reiman discusses the rise and impact of the assembly line.
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Thomas Schori, Tide Ocean Material’s founder and CEO, discusses his success in this year’s UBS Pitch for Purpose event and why it is important for UBS to champion individuals addressing urgent global challenges.
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With price fluctuations continuing and some unprecedented sell-offs, what will happen next in the market for the shiny metals? Top UBS strategists Giovanni Staunovo and Wayne Gordon join us to explain.
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While fragmented markets, bureaucracy, complexity and high social spending might hold Europe back, there remains plenty to be optimistic about. UBS’s Burkhard Varnholt explains why Europe is rich – in both contradictions and opportunities.
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Last week, Monocle Radio was broadcasting live from the World Economic Forum in Davos, where our team welcomed two special guests from UBS Global Wealth Management: CIO Mark Haefele and CIO Americas Ulrike Hoffmann-Burchardi.
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Richard Huang of UBS explains why private markets make sense for investors taking longer-term portfolio positions. Plus: three key drivers for putting your money to work today in this space.
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Kiran Ganesh joins us with some timely updates to the UBS ‘Year Ahead’ publication, which was released back in November. Can AI innovation, fiscal spending and easing monetary policy power a new era of growth?
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UBS is counting down to this year’s US semiquincentennial with a series of reports exploring 250 years of uniquely American innovation. In part two, UBS’s Nathaniel Gabriel discusses the ascent of the aviation sector.
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A special seasonal edition featuring Nobel laureates in economics whose insights inform UBS’s approach to answering complex questions. The 2024 laureate, Daron Acemoglu, reflects on the turbulent times in which we live.
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This week we’re joined by UBS's Emma Wheeler and Marianna Mamou to discuss their work on women’s wealth and supporting female entrepreneurs. Plus: Meet the 2025 UBS Female Founder Award winner, Databento's CEO, Christina Qi.
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Our series reviewing the UBS European Conference concludes with a focus on central banks. Our guests discuss the outlook for the US and Europe, and a new AI-based tool that tracks central-bank tone and sentiment.
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The report surveys UBS billionaire clients globally on the unique challenges and opportunities ahead. The 11th edition focuses on the forces driving wealth creation and the evolving ambitions of the world’s most influential families.
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Our series reviewing the latest UBS European Conference continues with Neil Hosie, UBS Head of Execution Services and host of the event’s first Heads of Trading track, discussing markets, trading and navigating complexity.
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Anastasia Deryagina, UBS’s head of global next-generation solutions, discusses the great wealth transfer, how best to ensure a smooth succession and the enduring value of the bank’s partnership with The Young Investors Organization.
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Our series reviewing the latest UBS European Conference begins with Raj Hindocha, UBS global research COO; Michel Lerner of UBS Holt; and Robert Donnenfeld of UBS Evidence Lab, discussing data as a differentiator.
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UBS is counting down to next year’s US semiquincentennial with a series of reports exploring 250 years of uniquely American innovation. For part one, UBS’s Kurt Reiman discusses the development of the transcontinental railroad.
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UBS celebrates inspirational individuals whose commitment to craft mirrors the values that drive it: dedication, expertise and passion. In this episode, we meet celebrated chef Nina Métayer (pictured) and renowned fashion designer Guo Pei.
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This year’s edition presents new findings on high-net-worth individuals in the art market. Featuring Art Basel CEO, Noah Horowitz, UBS Global Wealth Management chief economist, Paul Donovan, and report author Dr Clare McAndrew of Arts Economics.
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Banking is UBS’s craft. This is why UBS celebrates inspirational individuals whose commitment to mastery mirrors the values that drive UBS: dedication, expertise, passion. In this episode, we meet visionary conductor Long Yu.
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With gold passing $4,000 per troy ounce for the first time, Wayne Gordon and Giovanni Staunovo of UBS join the show to discuss this record, whether central banks will keep buying and what this means for smart investors.
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The 2025 edition analyses residential property prices in 21 major cities, providing insights into current global and regional real estate trends. Authors Matthias Holzhey and Maciej Skoczek of UBS discuss the findings.
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Key contributors to a UBS white paper on the blue economy discuss how the vital system of the global oceans can be supported and sustained in the long term.
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The much-anticipated quarter-point Federal Reserve rate cut might be the first of several this year. But what does this week’s move mean for investors?
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New French prime minister Sébastien Lecornu is the fifth premier in under two years. UBS CIO for France, Claudia Panseri, discusses whether the Macron loyalist can galvanise the National Assembly and curb French borrowing.
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The UBS Wealth Management CIO’s ‘Digital Assets 101’ series explores important developments in the digital-asset landscape. Michael Bolliger, UBS CIO for emerging markets, joins to discuss the potential of stablecoins.
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We conclude our season of insights from Nobel laureates in economics whose expertise informs UBS’s approach to answering complex questions. 2016 winner Bengt Holmström reflects on crafting economic knowledge for the real world.
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Our latest special edition features two Nobel laureates in economics whose insights inform UBS’s approach to answering complex questions. 2021 winner David Card (pictured) and 2024 laureate Daron Acemoglu reflect on their experiences.
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The second instalment of our special edition featuring Nobel laureates in economics whose insights inform UBS’s approach to complex questions. 2016 laureate Bengt Holmström returns to discuss the uncertain times we live in.
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Special edition featuring Nobel laureates in economics, whose insights inform UBS’s approach to answering complex questions. 2021 winner David Card and 2024 laureate Daron Acemoglu (pictured) discuss the uncertain times in which we live.
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UBS expects structural trends such as AI, electrification and longevity to be the biggest long-term drivers in equity markets. Ulrike Hoffmann-Burchardi, GWM head of global equities, explains how smart investors can take advantage.
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Despite a volatile year so far, there remains rewards for patient investors capable of navigating uncertainty. Kiran Ganesh, UBS GWM head of investment communications, discusses what we might learn in the remainder of 2025.
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Dominic Schnider from UBS Global Wealth Management joins us to discuss industrial metal markets and to explain why copper might provide a compelling opportunity for smart investors with a longer-term view.
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Scapegoat economics wrongly blames a particular group for problems, while prejudice politics promises to reduce that group’s influence. Paul Donovan of UBS explains what happens when prejudice fails to solve the underlying issue.
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The seminar and accompanying survey feature the views of around 40 central banks and provide an unrivalled and authoritative depiction of reserve-manager activities. Massimiliano Castelli and Shamaila Khan of UBS discuss this year’s edition.
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Necessary reading for those interested in the trends shaping wealth, the report covers 56 markets and more than 92 per cent of global wealth. Featuring insights from UBS economists Paul Donovan and James Mazeau.
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Generative artificial intelligence is a technology with potentially transformative power in any number of industries. How can smart entrepreneurs ensure that they keep pace with the transition? Achille Monnet of UBS Wealth Management explains.
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Maciej Skoczek, senior real estate economist in the UBS GWM CIO and the author of the 2025 report, discusses the outlook for the sector and reveals the location that tops this year’s rankings.
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With the UN Ocean Conference underway in Nice, we present the first of a two-part exploration of the blue economy, featuring key contributors to a new UBS white paper.
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This week in New York, UBS and Dior present House of Craft, an exclusive exhibition curated by Carine Roitfeld and dedicated to the craft of couture. With photographer Brigitte Niedermair and UBS’s John McDonald.
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The sixth edition reflects the views of more than 300 family offices managing an average of $1.1bn. Maximilian Kunkel, CIO for global family and institutional wealth at UBS Global Wealth Management, reports.
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Many women who’ve experienced a wealth-transfer event faced serious challenges, and most who expect to inherit from their parents feel unprepared. Carey Shuffman discusses the findings of the latest UBS ‘Own Your Worth’ report.
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With continuing uncertainty and volatility prompted by Trump, trade, tariffs and more, Paul Donovan of UBS tracks the latest economic and geopolitical developments in order to help investors stay focused.
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US presidents are always in a hurry to advance their agenda but Trump’s actions so far suggest an even greater sense of urgency. UBS’s Kurt Reiman discusses the president’s first 100 days in office.
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Are artificial intelligence-industry fundamentals more resilient than recent market volatility might suggest? Sundeep Gantori, UBS CIO equity strategist, joins us from Singapore to discuss the opportunity.
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While the US dollar has been the dominant – but not the only – reserve currency since 1947, its role has been eroded as other currencies have gained market share. UBS’s Paul Donovan explains what might happen next.
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The ninth annual Art Basel and UBS Global Art Market Report, compiled by Dr Clare McAndrew of Arts Economics, provides a comprehensive, macroeconomic analysis of the state of the global art market in the past year. It examines the industry’s various segments, including galleries, dealers, auction houses and art fairs, and assesses their performance against the backdrop of changes in global economics and wealth. We hear from McAndrew, Art Basel CEO, Noah Horowitz, and Paul Donovan of UBS.
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Donald Trump’s tariffs amount to a generational shift in US economic policy, with the measures bringing the effective tariff rate on imports into the US to its highest level in at least 100 years. Markets have since been digesting the fallout, with equities dropping sharply, bonds and gold rallying, and the US dollar depreciating against most major currencies. We’re joined by Kurt Reiman, head of fixed income at UBS in New York, to consider the outlook from here, discuss the effects on economies and markets, and ponder – as ever – what smart investors should do.
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We are joined by the authors of a new UBS report that takes a detailed look at the state of women in the world, gauging gender-equality progress thus far and seeking to understand the remaining barriers. “Gender-Lens Investment: The State of Women in 2025” explores how investors can continue to intentionally align their capital in ways that dislodge the barriers that women face and promote the realisation of their full potential. Amantia Muhedini and Antonia Sariyska of the UBS Global Wealth Management CIO join to discuss.
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Gold prices soared to another all-time high this week, breaking through the $3,000 per ounce barrier. With the price having reached UBS Global Wealth Management CIO’s long-held target, can it continue to rally? Wayne Gordon, managing director in the UBS CIO in Singapore, joins us to discuss what’s next.
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This annual guide to historical long-run returns is put together by UBS Investment Bank and UBS Global Wealth Management’s Chief Investment Office, in partnership with Professor Paul Marsh and Dr Mike Staunton of the London Business School and Professor Elroy Dimson of the University of Cambridge. The latest edition explores how 125 years of historical data can provide crucial insights for the future. Featuring Marsh, Kiran Ganesh and Tim Ramskill.
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With the post-election direction of political travel more clear, and with chancellor-elect Friedrich Merz having already outlined plans for a major boost in defence and infrastructure spending, what will this mean for investor confidence? Featuring Maximilian Kunkel, strategist at UBS Switzerland; and Sam Adams, economist for UBS in London.
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To mark International Women’s Day, we hear from four inspirational female leaders in finance. They discuss gender-lens investing, the rise of female-controlled wealth and its effects on broader economics, and the challenges facing female founders seeking to raise capital. Featuring (above left to right) Anouk Hilti-Zingg of Assarée; Julia Rees Toader of independent portfolio advisory firm Princes Capital; Lu Zhang, founder and managing partner of Fusion Fund; and Ana Mahony, CEO of Addition Wealth.
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A focus on long-term structural developments influenced by technological advancement, resource scarcity and societal changes. We discuss the topics of security and safety with UBS Global Wealth Management equity analyst Achille Monnet, and head of longer-term investment themes, Alexander Stiehler.
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When looking at trade between two countries, the value of exports should be lower than the value of imports. In recent years the value of China’s exports to the US has exceeded the value of US imports from China. Why is this happening? As UBS Global Wealth Management chief economist Paul Donovan explains, this doesn’t necessarily mean that there’s a ‘Bermuda Triangle’ affecting US-bound Chinese cargo vessels.
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Exploring the findings of the new ‘Global Entrepreneur Report’ with Kiran Ganesh, head of investment communications in UBS Global Wealth Management. This is the first UBS report which has actively surveyed the opinions of entrepreneurs in the bank’s client base and its Industry Leader Network. The solicited views cover a wide range of key developments that might shape the growth of both industries and personal wealth.
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Insights on the future of women’s wealth from the Equality Lounge at The World Economic Forum’s annual meeting in Davos. Emma Wheeler, head of the Women’s Wealth programme at UBS Global Wealth Management, joins the show to discuss how to better unlock investment potential for female founders and to consider the role of women within the unprecedented transfer of wealth currently happening across genders and generations.
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The theme of The World Economic Forum annual meeting this year was “Collaboration for the Intelligent Age”. UBS Global Wealth Management chief economist Paul Donovan joins us to look back on the week and to discuss the threat posed by “scapegoat economics”.
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We explore the latest edition of the longest-running and most comprehensive study of billionaire wealth. The 10th iteration tracks the wealth of more than 2,500 billionaires across the Americas, EMEA and APAC. As part of its research, UBS also conducted an online survey of the views of a sample of billionaire clients across the world. So what are some of the key discoveries? We discuss the report with Maximilian Kunkel, chief investment officer for global family and institutional wealth at UBS Global Wealth Management.
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In this special edition, UBS global wealth management chief investment officer Mark Haefele discusses his new book, ‘The New Rules of Investing: Essential Wealth Strategies for Turbulent Times’. Co-written with Richard C Morais, the volume outlines Haefele’s view that new developments in everything from global affairs to demographics and technology mean that we need to change the way we think about investing.
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In the first programme of the new year we present a selection of interviews that the Monocle team conducted this past November on the margins of the UBS Australasia Conference in Sydney. UBS gathered industry leaders, policymakers and innovators at the event to explore how topics such as productivity, healthcare and technology affect the economy and investment landscape. Our show features Paul Donovan, chief economist in UBS Global Wealth Management; Renee Lo, Singapore-based regional director at Google; Lachlan Shaw, co-head of UBS mining research; and UBS analyst Richard Schellbach.
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We explore the most recent edition of UBS Asset Management’s flagship thought-leadership paper, ‘The Red Thread’, which is focused on diversification. Long a central tenet of investment theory, many assumptions about the strategy have been tested of late due to the dominance of the so-called “Magnificent Seven” tech companies. Our panel is Barry Gill, UBS Asset Management’s head of investments, Michele Gambera, head of strategic asset allocation, and Lucy Thomas, head of sustainable investing and impact.
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Raphael Güller is the co-founder and chief product officer of Sweep, and one of the inspirational leaders who UBS supports and celebrates through its Global Visionaries programme. Raphael is joined at Monocle’s HQ in Zürich by Tom Hall, global head of social impact at UBS, to discuss Sweep’s origin story, its involvement in this year’s UBS Pitch for Purpose event, and why it is important for UBS to champion organisations such as Sweep, which are driving solutions to the great challenges of the day.
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We mark the occasion by hearing from Tom Hall, UBS global head of social impact and CEO of the UBS Optimus Foundation Network, and from one of its partners who has already been driving change: Fabio Segura, co-CEO of the Jacobs Foundation. They discuss the importance of collaboration in delivering effective philanthropy, with a particular focus on how education can drive social equality and enduring transformational change.
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Dr Daniela Marino is the CEO and co-founder of skin-graft innovators Cutiss and one of the inspirational leaders that UBS supports and celebrates through its Global Visionaries programme. Marino is joined at Monocle’s HQ in Zürich by Tom Hall, global head of social impact at UBS, to discuss Cutiss’s success in this year’s UBS Pitch for Purpose event and why it’s important for UBS to champion individuals who are driving solutions to the great challenges of the day.
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The second of two specials focused on breaking barriers in economics and finance, brought to you by UBS and Monocle’s sister publication, ‘Konfekt’. This show features insights from Addition Wealth founder, Ana Mahony, and business leader Rania Anderson. Thanks to the partnership with UBS, you can read more about Mahony and Anderson in ‘Konfekt’s’ winter issue, available on newsstands now.
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UBS’s head of fixed income and co-lead of the bank’s ElectionWatch report series, Kurt Reiman, joins the show to reflect on Donald Trump’s US presidential election success. In a conversation recorded as Trump finalised appointments to his cabinet, Reiman discusses the likely direction of travel for the US economy under Trump 2.0.
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The first of two special editions focused on investing in women and breaking economic barriers, brought to you by UBS and ‘Konfekt’, the sister publication of ‘Monocle’. Featuring insights from one of the extraordinary cohort of economists that shapes the UBS worldview: 2023 Nobel laureate Claudia Goldin. Goldin discusses the importance of fostering economic equality and empowering financial futures for all. Thanks to the partnership with UBS, you can read more about Goldin’s work in the winter issue of ‘Konfekt’, available on newsstands now.
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The largest survey of its kind to date, the report reveals insights into buyer behaviours and the transfer of wealth between generations of high-net-worth individuals against a backdrop of challenging economic conditions. This year’s edition gathered responses from more than 3,500 such collectors across 14 global markets, including new additions Switzerland, Mexico and Indonesia. The report’s author, cultural economist Dr Clare McAndrew, is joined by Paul Donovan, chief economist in UBS Global Wealth Management, and Art Basel CEO Noah Horowitz.
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The United Nations Biodiversity Conference recently concluded in Cali, Colombia. On today’s programme, we discuss both the event and the theme of biodiversity more generally with two leaders in the field from UBS: lead for advocacy and nature in the chief sustainability office, Judson Berkey; and global head of sustainable and impact investing for the UBS CIO, Andrew Lee.
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The UBS International Pension Gap Index compares retirement systems across 25 markets based on the voluntary savings required from its participants. Its authors, James Mazeau and Elisabeth Beusch, explain why private savings are crucial to maintain an accustomed lifestyle in retirement. They explain how the index demonstrates the importance of planning and how investments can help close pension gaps.
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Ulrike Hoffmann-Burchardi, head CIO for equities in UBS Global Wealth Management, joins the show to discuss whether the current hype around AI technology and its adoption is justified. As capex and technical innovation continue apace, we’ll hear more about UBS’s investment framework to identify AI opportunities, shed some light on how AI actually works and highlight its implications for everything from the global economy to sustainable development.
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A new report from the UBS Sustainability and Impact Institute explores whether key climate technologies are breaking through at the scale and pace required to address the climate crisis. William Nicolle, the author of the report, explains that despite climate tech’s vast potential for emissions reduction, there remains a tricky road ahead as most of these technologies are economically uncompetitive or as yet too immature to easily scale. We’ll hear how processes might be improved to better understand complex dependencies, and also to better inform strategic policy, investment and organisational decisions.
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Geopolitical upheaval and increasing economic pressure have led to a rethink of the EU’s main priorities. Former ECB president Mario Draghi’s long-awaited report on the future of European competitiveness offers a blueprint for change – but can the EU shift its economic priorities and set a fresh course for growth? We’re joined by Sam Adams, economist in the UBS Global Wealth Management CIO, to discuss.
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Delivering insights into the people, places and products shaping the financial week ahead. Hear from the finest minds and freshest thinkers as they take you beyond the numbers and the hype to get to the heart of the day’s big issues.
Our panel reflects on the US Federal Reserve decision to cut interest rates for the first time since March 2020. Paul Donovan, chief economist in UBS Global Wealth Management and Kiran Ganesh, managing director in the UBS Chief Investment Office, discuss the 50 basis-point reduction, consider the macro picture and explain what this week’s move means for investors.
Professor Paul Romer won the 2018 Nobel Prize in Economic Sciences for his work integrating technological innovations into long-run macroeconomic analysis. In May, Romer spoke to Monocle Radio on the margins of the UBS Asian Investment Conference in Hong Kong. In the latest in a series in which luminaries of economics share their unique perspectives, Romer explains the effect of human capital, innovation and knowledge on economic growth.
With the yellow metal having rallied sharply to hit new highs, our panel explains whether they think gold will keep its hold on investors. Giovanni Staunovo and Wayne Gordon from UBS explain why the policy and risk environment, and structural demand, are combining to point to continued medium-term upturn in the price. Plus: why geopolitical fears and election-related risks continue to justify holding gold as a portfolio hedge.
Thomas McLaughlin, managing director at the UBS Chief Investment Office, joins the show to reflect on the recently concluded Democratic National Convention in Chicago. We discuss the broader context of Kamala Harris’s truncated campaign and consider what the latest polling tells us about November’s vote.
The final part of our special series exploring the meaning of craft in today’s world. Craft is not just about what you do but also how you go about doing it, and in this series, Monocle and UBS have been interrogating how this idea comes to life across different industries. Part three features the globally minded, Zürich-based designer, architect and educator Charles O Job.
The next in our special series exploring the meaning of craft in today’s world. Craft is not just about what you do but also how you go about doing it, and in this series, Monocle and UBS are interrogating how this idea comes to life across different industries. Parttwo features Kathryn Sargent, the first woman to earn the title of “master tailor” on London’s Savile Row; and Lowie Vermeersch, founder and creative director of the car design and mobility research firm, Granstudio.
The first in a special series exploring the meaning of craft in today’s world. Craft is not just about what you do but also how you go about doing it: the ability to gaze both backwards and forwards; to recognise heritage and skill, and combine it with a compelling vision. In this series, Monocle and UBS are interrogating how these tenets come to life across different industries. Part one features Paul Donovan, chief economist of UBS Global Wealth Management, and Monocle’s editor, Josh Fehnert, discussing how craft can shape everything from banking to storytelling.
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‘The Red Thread’ publication by UBS Asset Management is released bi-annually and tackles topics from different angles to help readers find common threads and make sense of important trends. We focus on a chapter from the recent Disruption edition of ‘The Red Thread’ unpacking the history – and looking to the future – of lending disruption. Featuring John Popp, Joe Sciortino and Rodrigo Trelles.
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We discuss the effect of Joe Biden’s decision not to stand for re-election and throw his support behind vice-president Kamala Harris. What does the move mean for the race? And what does that mean for investors as we head towards November’s vote? Joining the show are Tom McLoughlin, UBS senior fixed income strategist, and David Lefkowitz, UBS head of US equities.
We look ahead at H2 2024 and, more specifically, towards November’s US presidential election. With the US deciding its next leader, AI continuing to advance and interest rates likely to be cut, there is much for investors to focus on as they consider their options this year and beyond. Looking ahead for us on the show are Kiran Ganesh, Dominic Schnider and Nadia Lovell of UBS.
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The UBS Global Wealth Report has been at the forefront of insights into household wealth for 15 years and has become a key reference point for all those interested in trends shaping wealth across the world. Featuring analysis from UBS Global Wealth Management chief economist Paul Donovan and Economist Samuel Adams.
This is the 30th edition of the UBS Reserve Management Seminar, one of the most authoritative depictions of official reserve-management activities available. This iteration includes the views of some 40 central banks, covering geopolitics, currencies, asset allocation and, this year, reform of financial infrastructure. With Massimiliano Castelli and Philipp Salman from the global sovereign-markets team in UBS.
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Like other game-changing technologies before it, artificial intelligence is expected to unleash new wealth creation, resource reallocation and societal change. But the precise forms that this will take – and at what speed – is difficult to predict. Richard Mylles, the author of a new UBS Sustainability and Impact Institute report on the theme, joins us to explain how AI’s consequences for human capital can be optimised, focusing on education, productivity and health.
The UK goes to the polls on 4 July for a hotly anticipated general election. With manifestos being published and the usual media circus in full flow, we take a look at some of the key economic questions that are dominating the agenda ahead of the decisive day at the ballot boxes. With Anna Titareva, Jason Napier and Zachary Gauge of UBS.
Today’s agrifood industry produces enough calories to feed the global population but it creates negative externalities across the climate, nature and health sectors. Global sustainability goals have changed what crops the agrifood industry grows and how. Such dynamics leave the sector structurally unprepared to deliver on these goals. However, deploying mature, high-impact investable solutions in the short term that strengthen innovation could be a boon to the industry. The UBS Sustainability and Impact Institute report analyses promising solutions and outlines the role of capital markets and investors in facilitating their development and deployment. We discuss this with William Nicolle, ESG analyst in the UBS Sustainability and Impact Institute.
The director of Art Basel in Basel, Maike Cruse, joins us to reveal how the fair is celebrating 30 years of collaboration with global lead partner UBS. Together they commissioned artist Petrit Halilaj who has created a special installation for the façade of Hotel Merian. Plus: UBS Group CMO John McDonald explains why the bank’s partnership with Art Basel continues to make an impact after 30 years.
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This special edition recorded at the UBS Asian Investment Conference in Hong Kong features a selection of fascinating conversations and insights we recorded at our Monocle pop-up studio at the Four Seasons. Featuring Professor Paul Romer, Naomi Schiff, Vivian Siu, Dr Jordan Nguyen, Dr Amy Cruse, Martin Yule and Richard Schellbach.
The 2024 edition of the annual GFO report was compiled entirely in-house for the fifth year and provides the world’s largest and most comprehensive study of single family offices. UBS surveyed 320 clients globally in the first quarter and the online survey methodology was distributed to over 30 markets worldwide. So what did UBS discover this year? Here to tell us is Maximilian Kunkel, chief investment officer for global family and institutional wealth at UBS Global Wealth Management.
Renewables account for the majority of energy capacity additions globally, and governments worldwide have recently committed to triple renewables by 2030. Our UBS panellists explain how private infrastructure offers an attractive opportunity for investment as an effective portfolio diversifier and a stable source of income and returns. With Antonia Sariyska and Antoinette Zuidweg.
Cutting-edge medical technology, advances in AI and a sharper focus on healthier living mean that reaching the age of 100 could one day be the norm. But can our financial health survive just as long? UBS CIO equity strategist Wen Ching joins the show from Singapore to explain how smart portfolio planning can ensure that investors can live well for longer.
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The latest instalment in our ElectionWatch series, based on reports published by the CIO of UBS Global Wealth Management. The reports look ahead to November’s potentially seismic general election in the US and consider its impact across sectors, themes and geographies. In today’s edition, Dean Turner and Thomas Wacker consider the implications of this election for Europe. As the vote draws nearer, there are potentially two key issues coming to the fore for European investors, businesses and politicians alike: trade and defence.
ProfessorGeoffrey Hinton, the British-Canadian computer scientist known as the “godfather of AI”, discusses the future of artificial intelligence with his former collaborator De Kai in a special edition of the programme recorded at the UBS Greater China Conference earlier this year. Does the rise of “artificial general intelligence” threaten the future of humanity?
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Blended finance is a strategy that’s gaining momentum and visibility. In the past decade, it has mobilised more than $200bn (€188bn) in capital toward sustainable development in developing countries. Dhun Davar, head of social finance at the UBS Optimus Foundation, joins us to explain how this helps funding reach high-impact social and environmental projects that might otherwise be overlooked by mainstream markets.
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What is the UBS Wealth Management CIO’s outlook for the second quarter of 2024? Our panellists explain why buoyant equity markets, a soft landing in the US, continued central-bank rate-cutting and the ongoing adoption of artificial intelligence have prompted their focus on technology, durable income and risk management.
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The Global Investment Returns Yearbook is the authoritative guide to historical long-run returns, most recently published by UBS with the London Business School, and covering all the main asset categories in 35 markets.
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UBS celebrated the 10th year of its proud partnership with Art Basel Hong Kong with a dynamic programme focused on artist responses to city life. We meet Chankalun, an artist who pays homage to the city’s heritage of neon sign-making, and whose works were showcased at the fair in the UBS Art Studio and inaugural UBS One spaces. Plus: Carola Wiese, Senior Art Advisor in the Family Advisory, Art & Collecting division of UBS, and Iwan K Lukminto, collector and founder of Tumurun Museum in Surakarta, Indonesia, join the show to share reflections, highlights and recommendations from this year’s edition.
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Reflections from the UBS Global Consumer & Retail Conference that took place last week in New York. We invite three UBS experts, including US Hardline/Broadline and Food Retail Analyst Michael Lasser, to share their insights into the key narratives that emerged both from the main sessions and on the margins.
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The eighth annual Art Basel & UBS Global Art Market Report, authored by renowned cultural economist Clare McAndrew, once again provides a comprehensive, macroeconomic analysis of the state of the global art market in the preceding 12 months. We discuss the findings with McAndrew, Art Basel CEO Noah Horowitz and UBS Global Wealth Management chief economist Paul Donovan.
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We mark International Women’s Day by taking a deeper dive into a report from the Chief Investment Office (CIO) of UBS Global Wealth Management, which explores how women can realise their lifetime investment goals. With Marianna Mamou, head of advice beyond investing in the UBS CIO.
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Takeaways from the 2024 edition, which took place in Key Biscayne, Florida, last week, featuring key industry figures discussing the state of the sector, the dynamics of the year so far and the direction of travel. We get a summary of the event from Brennan Hawken, who covers capital markets in the equity research department at UBS, and Erika Najarian, who heads large cap bank research.
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We kick off our coverage of the UBS Global Wealth Management Chief Investment Office ‘ElectionWatch’ series. These reports take the US investment temperature in the build-up to November’s presidential election. The edition published earlier this month and authored by our guest, Tom McLoughlin, managing director and head of fixed income and municipal securities for UBS, is titled, ‘Implications of a potential rematch’.
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The S&P 500 closed above 5,000 for the first time last week, having risen almost 5.5 per cent this year. This follows a more than 24 per cent rally for the benchmark US index in 2023 and means that it has doubled since the pandemic-induced low of March 2020. Kiran Ganesh of UBS explains what this means for investors and discusses the potential effect of the ongoing US general-election campaign.
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UBS Global Wealth Management chief economist Paul Donovan joins the show to discuss his blog, The Danger in Round Numbers, and explains why rounding up prices can have an effect that goes beyond people’s pocket books.
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Katharine Hayhoe is chief scientist at The Nature Conservancy and a member of the UBS Sustainability and Impact Institute Forum. In this follow-up to our earlier coverage of the Institute’s white paper published at the World Economic Forum, Hayhoe discusses nature-based solutions to climate and biodiversity crises. She explains how the world must invest in and work with nature to address these challenges for the sake of current and future generations.
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A special edition of the programme explores how to close the education disadvantage gap in the UK. The system fails many young people, with the gap in outcomes between richest and poorest deeply entrenched and even widening in certain regions. Joining us to explain how they’re addressing the challenge, and why collaboration is critical in driving enduring change, are five very special guests: Steve Rotheram, metro mayor of the Liverpool City Region; Sarah Payne, UK head of social impact and philanthropy at UBS; Graeme Duncan, CEO of Right to Succeed; Justine Molyneaux, CEO of Involve Northwest; and Steve Morgan, founder of housebuilder Redrow, philanthropist and chair of his eponymous foundation.
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We examine a white paper published by the UBS Sustainability and Impact Institute at the World Economic Forum Annual Meeting at Davos. ‘Bloom or Bust: Aligning Technology and Finance to Address Biodiversity Challenges’ sets out the key problems that we face, explores the efficacy of existing solutions and considers the role that a combination of finance, government action and deep partnerships can play in aiding nature’s recovery. Featuring William Nicolle of UBS and Leland Werden of ETH Zürich.
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After a strong rebound in 2023 that saw top coins increase in value by high-double to triple-digit percentages, what lies ahead for crypto assets? Michael Bolliger and Antoinette Zuidweg from the UBS Global Wealth Management Chief Investment Office tell us why the new year might bring further opportunities for trading-oriented investors who believe that they can time crypto assets – and why they remain unconvinced, for now, by disruptive real-world use-cases.
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Concluding our two-part series in which we discuss 2024 and beyond, we consider the themes set to define the next decade, with insights and observations from Paul Donovan, Kiran Ganesh, Antoinette Zuidweg and Tony Petrov.
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Kicking off a special two-part edition in which we look ahead at 2024 before expanding our horizons and considering the themes that might define the next decade. Featuring insights and observations from Paul Donovan, Kiran Ganesh, Dominic Schnider, Antoinette Zuidweg and Tony Petrov.
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With the season of giving in full swing, we take a timely look at the space with UBS Head of Social Impact & Philanthropy, Tom Hall. Tom explains what exactly his team means by “making an impact” and how collaboration amplifies successful outcomes.
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The UBS Billionaire Ambitions Report 2023 is subtitled: “Changing of the guard: The coming era of wealth succession and the drive for greater purpose”. Max Kunkel, CIO for global family and institutional wealth within UBS Global Wealth Management, joins the show to discuss the findings, including the fact that – for the first time in nine editions of the report – billionaires have accumulated more wealth through inheritance than entrepreneurship. Kunkel explains how a new cohort of multigenerational families is taking shape, how this generation has its own views on legacy and ambition – and why this requires increasingly sophisticated solutions for succession planning and defining common values.
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The last in a short series of programmes discussing some of the key panels and themes from the 2023 UBS European Conference. Beatriz Martin, head of non-core and legacy at UBS, joins us to reflect on her conversation with Cherie Blair in London. Up for discussion were women’s economic equality, the importance of mentorship and the issues facing female entrepreneurs today.
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The latest in our series of programmes unpacking some of the key panels and themes from the 2023 edition of the UBS European Conference. This week we turn to equity markets and hear from James Arnold, global co-head of strategic insights and advisory, and Gareth McCartney, global co-head of equity capital markets. Up for discussion: have we reached a turning point for UK capital markets?
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What are the compelling opportunities that remain at the end of China’s multi-decade period of high growth? We focus on the country and explore its importance to investors – and to the world – through the prism of UBS’s ‘Panorama’ publication. UBS Asset Management’s head of investments, Barry Gill, and head of sustainable investing, Lucy Thomas, are here to remind us why China is so important and to address some of the main misconceptions about the country.
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The first in an occasional series exploring some of the key panels and themes from the 2023 edition. Ahead of programmes focused on equity markets and gender equality, we begin with the outlook for the US courtesy of UBS chief US economist Jonathan Pingle. Plus: we take the temperature on the other side of the Atlantic with UBS European economist Anna Titareva.
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We are joined by two of the authors of a new report from the Chief Investment Office of UBS Global Wealth Management that explores whether the US is set for another “Roaring Twenties”. The economy has evolved in unexpected ways this year, so Jason Draho and Paul Hsiao are here to explain why the macro picture is so unusual and what the secular trends are that will shape the supply side for good (and bad) this decade.
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Insights into the behaviours and attitudes of high-net-worth art collectors around the world. Discover why there was a greater engagement with research-based acquisitions and why these collectors are optimistic about the market in 2024. Featuring report author and renowned cultural economist Clare McAndrew and UBS chief economist Paul Donovan.
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Another chance to hear this special episode featuring the brilliant Daniel Kahneman. To address the big questions that shape our world, UBS has sought out a number of economic science Nobel laureates and asked them to share insights, discuss their research and open their inquiring minds. Kahneman won in 2002 for integrating insights from psychological research into economics, especially concerning human judgement and decision-making under uncertainty. Here he discusses his 2021 book ‘Noise: A Flaw in Human Judgement’ and explains how such randomness infiltrates different parts of society.
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William Nicole from the UBS Sustainability & Impact Institute explains how this economic approach could help to address the urgent challenge of global biodiversity loss. With biodiversity diminishing at an alarming pace, it’s clear that the world needs new tools to sustainably manage environmental resources for the long term. Can NCA offer the solution?
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Angela Gichaga is the CEO of the Financing Alliance for Health and one of the inspirational innovators that UBS supports and celebrates through its Global Visionaries programme. Angela is joined at Monocle’s HQ in Zürich by Tom Hall, Global Head of Social Impact & Philanthropy at UBS, to discuss the critical importance of strengthening, scaling and sustaining community health systems.
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UBS Q-Series research connects the dots across asset classes, geographies and sectors. Today we hear from the analysts behind UBS Evidence Lab’s newest teardown of the electric car. In this most recent iteration, the EV in the frame is the latest mass-market effort from China’s number-one car maker, the BYD Seal. With Patrick Hummel and François-Xavier Bovignies.
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A special edition of the programme exploring ‘Rethink, Rebuild, Reimagine: The Untapped Opportunity and Overlooked Risk in Buildings and Structures’, a new white paper from the UBS Sustainability and Impact Institute. Two of its co-authors, the UBS ESG analysts William Nicolle and Richard Mylles, join us to explain what rethinking, rebuilding and reimagining buildings and structures can – and must – look like to best balance urban growth and sustainability.
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We discuss UBS’s annual report that assesses urban housing markets around the world and gauge the “bubble risk” in residential property markets in 25 major cities. The 2023 edition looks at the effect of the abrupt end of the low-interest-rate environment. With Matthias Holzhey, Dean Turner and Jonathan Woloshin.
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We discuss the decision by the ECB to raise interest rates to an all-time high of 4 per cent. What will the impact be on the Eurozone economy? And how will the Swiss National Bank react? Dean Turner and Tom Flury explain.
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Forget the recent hype surrounding artificial intelligence (AI) and join us for a look at the clear economic application for the new technology. Paul Donovan of UBS explains why the economics of AI are also those of disruption. Donovan also discusses the four broad areas where AI might make the greatest impact: jobs, growth, inflation and politics.
Millions of global theatre-goers have enjoyed the “Barbenheimer” cinematic experience this summer. But what happens if you apply the idea of two apparently incongruous events happening at the same time to markets as well as films? UBS’s Jason Draho joins us to explain how contradictory evidence and conflicting interpretations of data and policy moves can create “Marketheimer” events.
Dave Power is the president and CEO of Perkins School for the Blind, as well as one of the inspirational innovators who UBS supports and celebrates through its Global Visionaries programme. Power and his team provide world-leading education services for children and young adults who have multiple disabilities and visual impairments. He is joined at Monocle’s Zürich HQ by Tom Hall, global head of social impact and philanthropy at UBS, to discuss the transformational power of universal, lifelong learning.
The 14th edition of the Global Wealth Report, the first launched jointly by UBS and Credit Suisse, reveals valuable insights about the state of the global economy and society, as well as the shifting meaning and potential of prosperity. Discussing the findings are Paul Donovan, chief economist in UBS Global Wealth Management; Nannette Hechler-Fayd’herbe, chief investment officer for the EMEA region and global head of economics and research at Credit Suisse; and economist, wealth researcher and report co-author Anthony Shorrocks.
There have been plenty of recent headlines about new, more efficacious weight-loss drugs to treat excess body fat. The global number of people with obesity continues to rise at pace – and shows no signs of falling for years to come. So what does this mean in terms of trends and opportunities for smart investors?
Paul Donovan, chief economist at UBS Global Wealth Management in London, joins the show to unpack his recent blog discussing inflation discrimination. What complications can arise when official inflation data fails to take into account different forms of price discrimination?
The latest UBS global Investor Watch report surveyed more than 500 US business owners who recently sold up or are considering doing so within the next five years. Bianca Benedetti-Fang, executive director of the UBS Business Owner Client Segment team, joins the show to discuss the report’s findings.
Paul Donovan, chief economist of UBS Global Wealth Management in London, joins the show to unpack his recent blog discussing corporate Pride. Corporate involvement in Pride events and rallies has long attracted controversy and enthusiasm in almost equal measure but as Paul explains, there are some differences in the tone and source of criticism this year.
The first Future-Now Conference took place in Hong Kong last month, bringing together investors, founders, UBS specialists and companies to discuss current and future trends. In this edition, we hear from the keynote delivered by renowned futurist Azeem Azhar: ‘Four key themes for the exponential age’. Azhar is creator of the acclaimed Exponential View newsletter and the best-selling author of ‘Exponential: Order and Chaos in an Age of Accelerating Technology’.
Earth Security founder and CEO Alejandro Litovsky is another of the inspirational thought-leaders and innovators that UBS supports and celebrates through its Global Visionaries programme. Litovsky is joined at Monocle’s headquarters in Zürich by Tom Hall, global head of social impact and philanthropy at UBS, to discuss investing through a natural-asset lens.
The annual UBS Reserve Management Seminar and its resulting survey provide one of the most authoritative depictions of official reserve management activities. This year’s research was conducted between April and June, collecting responses from nearly 40 central banks from all regions globally. What was discussed at the conference – and what can we learn from the freshly published survey? With UBS’s Massimiliano Castelli and professor Arturo Bris.
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Our panel from UBS Global Wealth Management’s chief investment office explains why we face a balancing act in the second half of the year. There’s a path for higher stocks but it is narrow: economic growth can neither be so strong as to force the US Federal Reserve into further hikes, nor be so weak as to drive fears of a recession. Our experts discuss what smart investors can do over the coming months. With Nadia Lovell, Kiran Ganesh and Paul Donovan.
Carey Shuffman, head of UBS’s US women’s segment, guides us through the latest edition of the annual report that explores how women approach their financial wellbeing. Shuffman tells us how she and her colleagues compiled this year’s data, reveals some of its key findings and reminds us why a sharp focus on women’s financial participation remains as vital as ever.
As Art Basel begins we are discussing this year’s Art Basel & UBS Global Art Market Report. It contains annual deep-dive research that provides a comprehensive, macroeconomic analysis of the state of the global art market. So what does the latest edition reveal? Find out with report author and Arts Economics founder Clare McAndrew, Marco Antonini from UBS Art Advisory and UBS chief economist Paul Donovan.
This year’s edition of the UBS Global Family Office Report documents the findings of a survey of 230 single-family offices around the world. Max Kunkel, CIO for global family and institutional wealth within UBS Global Wealth Management, joins the programme to explain why family offices are planning a major shift in strategic asset allocation.
Leslie Falconio and Tom McLoughlin from the UBS Wealth Management Chief Investment Office in the US join the programme to discuss the current crisis and consider the different pathways to resolution.
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We discuss the recent longer-term investment paper from UBS Global Wealth Management’s chief investment office, which is focused on the metaverse. Our panel explains that while the full realisation of the metaverse may take as long as a decade to occur, they expect iterative improvements in related infrastructure, AI and experiences over the next few years. With insights from the report’s lead authors Kevin Dennean, Michelle Laliberte and Antoinette Zuidweg.
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The second of a double bill exploring the impact economy. Prompted by a new white paper from The UBS Sustainability & Impact Institute, we discuss the most critical issues in sustainable finance today. The UBS S&I Forum was established last year to drive the discourse and today we meet one of its founding members, CEO of Conexus Financial, Fiona Reynolds. Plus: insights from UBS Global Wealth Management chief economist, Paul Donovan.
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The first of a double bill exploring the impact economy. Prompted by a new white paper from the UBS Sustainability and Impact Institute, we discuss the most critical issues in sustainable finance today. The UBS Sustainability and Impact Forum was established last year to drive the discourse and today we meet one of its founding members, Sir Partha Dasgupta, Professor Emeritus of Economics at the University of Cambridge. Much of Sir Partha’s celebrated research has covered ecological economics.
Though not wholly immune to ongoing stresses in the global banking sector, emerging markets seem to be marching to a different beat. Alejo Czerwonko, chief investment officer emerging markets Americas at UBS, explains why and tells us what this means for portfolio positioning.
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Traditional equity-bond diversification failed to protect investors in 2022. Antoinette Zuidweg, alternative investment strategist at UBS Global Wealth Management, explains the role that alternatives can play in challenging times.
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Meet Kate Dooley, CEO of Education Partnerships and another of the inspirational thought-leaders and innovators that UBS supports and celebrates through its Global Visionaries programme. In this special episode, Kate is joined by Tom Hall, global head of Social Impact and Philanthropy at UBS, to discuss the power of collective philanthropy at Monocle’s headquarters in Zürich.
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UBS Global Wealth Management chief economist Paul Donovan joins the show to discuss the challenge of navigating between reported data and economic reality. How do statisticians make sense of this? And what can smart investors do to ensure that their portfolios are positioned correctly?
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With inflection points in interest rates and economic growth ahead, staying focused on the long term, mitigating risks, managing opportunity costs and seizing attractive returns will be among the key challenges. So what should smart investors do?
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Global lead partner UBS has been celebrating the return of the fair with a programme to drive engagement and increase access to art in the local community. We learn more about how UBS drives its programmes of public engagement, hear from the director of the fair and speak to the manager for APAC of UBS’s extraordinary corporate art collection.See omnystudio.com/listener for privacy information.
We wrap up our highlights from UBS’s annual flagship event, the 23rd edition of which took place in January with a theme of ‘The Way Ahead’. For this programme, UBS APAC head of research Martin Yule asks Nasser Saidi, former chief economist of the Dubai International Financial Centre and the first governor of the Central Bank of Lebanon, to discuss the theme, ‘China and the Middle East: old friends in a new era’.
The Chinese People’s Political Consultative Conference and the National People’s Congress have both taken place this week. As well as economic targets and macro-policy setting, this year’s editions involved the most extensive government reshuffle in a decade or more. UBS experts Bhanu Baweja and Yifan Hu join us to discuss the key learnings of a busy week.
To mark International Women’s Day, we dive into a new report from the UBS CIO entitled ‘Women and Investing: Planning for Your Legacy’. The report trains a lens on the goal of legacy: how women investors define it, the best allocation of resources to meet those objectives and the importance of putting a financial plan in place for the smooth transfer of wealth. Marianna Mamou, head, advice beyond investing in the Chief Investment Office of UBS Global Wealth Management and author of the report, joins us to explain more.
UBS Global Wealth Management chief economist Paul Donovan joins the show to discuss some of the perennial issues with GDP as a metric and how the fourth industrial revolution is upending its primacy as a measure of growth.
A special programme marking the anniversary of Russia’s invasion of Ukraine and the creation of the Ukraine Relief Fund by the UBS Optimus Foundation: an extraordinary mobilisation of capital and a triumph of collaboration. With us to reflect on its prospects and imperatives for the future are the CEO of the Optimus Foundation and the leaders of two local partners whom UBS has supported in their vital work on the frontlines.
Further highlights from UBS’s annual flagship event, the 23rd edition of which took place last month with the theme, ‘The Way Ahead’. UBS global chief economist Arend Kapteyn, chief European economist Reinhard Cluse, their US counterpart Jonathan Pingle and head of Asia economics Tao Wang discuss the global economic and policy outlook.
How best to close the ‘funding gap’ that exists between female entrepreneurs and their male counterparts? We discuss the winner of the UBS Female Founder Award and ask how this recognition is helping to bridge the gap and move the needle towards a more equitable distribution of funding and opportunities. Marianna Mamou, head Advice Beyond Investing in the UBS CIO, and Emma Wheeler, head of the Women’s Wealth Programme in UBS’s Wealth Management business, tell us about the 2022 award-winner Danielle Lawrence, co-founder and CEO of Freyda Limited.
UBS Global Wealth Management chief economist Paul Donovan joins the show to explain why investors need to start ‘watching the weight’ of different parts of the constantly shifting inflation basket. Donovan tells us why increased spending on things like energy and durables in 2021 and 2022 increases those sectors’ importance in inflation calculations for the year ahead – and how canny investors should react.
Bloomberg’s Lulu Yilun Chen discusses her new book, ‘Influence Empire: The Story of Tencent and China’s Tech Ambition’ with UBS’s Kirsten Parker at the 2023 UBS Greater China Conference.
We dive into the latest compelling report from UBS Global Wealth Management’s chief investment office and learn why its authors have described the next 12 months as a “year of inflections”. The editor in chief of the report is one of this programme’s regulars, Kiran Ganesh. He joins us to outline the factors that have shaped the bank’s house view for 2023.
In the latest in an occasional series, the chief economist in UBS Global Wealth Management, Paul Donovan, joins the show to talk us through some of the key topics that he has been following and writing about as we enter 2023. Today’s programme explores what profit-driven inflation might mean.
The last in our series of specials exploring the key panels and themes from the 2022 edition. After programmes on cryptocurrencies and monetary policy, we turn the lens on private equity. Joining the programme is Simona Maellare, who runs Alternative Capital Group globally for UBS.
Explore a compelling report with a truly global scope from The UBS Optimus Foundation in APAC and project partners Mana Impact and EnviroStrat. The report demonstrates how nature-based solutions can be better understood and employed to address global environmental and biodiversity challenges. With Optimus Foundation’s CEO Maya Ziswiler, Patti Chu of Mana Impact and EnviroStrat’s Cerasela Stancu.
To help address the big questions that shape our world UBS has sought out a number of Nobel laureates in the economic sciences to ask them to share insights, discuss their research and open their inquiring minds. This week we hear from the laureates recognised in 2020 for their improvements to auction theory and the inventions of new auction formats.
In the first of an occasional series, Paul Donovan, the chief economist at UBS Global Wealth Management, joins the show to talk us through some of the key topics that he’s been following and writing about in the latter half of 2022. Today’s programme explores the supply-demand imbalance.
‘The Green Inflection Point’ is a new white paper from the UBS Sustainability & Impact Institute. Two members of the institute – Francis Condon, head of thematic engagement at UBS Asset Management and Adam Gustafsson, who works for the UBS AM data science team, – discuss some of the key actions that the financial sector must take to accelerate decarbonisation of the real economy.
To help address the big questions that shape our world, UBS has sought out a number of Nobel laureates in the economic sciences to ask them to share insights, discuss their research and open their inquiring minds. This week, we hear from Guido Imbens, the 2021 winner for his work on causal relationships, and discuss how natural experiments can lead to more credible research.
The next in our series of specials exploring the key panels and themes from the 2022 edition. After our programme on cryptocurrencies and before we turn the lens on private equity, we focus on monetary policy. Joining the programme on either side of the Atlantic are two great guests from UBS Investment Bank: chief European economist Reinhard Cluse and his US counterpart, Jonathan Pingle.
The first of a series of specials exploring the key panels and themes from the 2022 edition. Ahead of programmes focused on monetary policy and private equity, we begin with a deep dive into cryptocurrencies and CBDCs with James Malcolm, UBS Head of FX strategy and cryptocurrency research.
We count down to the vote on 8 November, gauge the state of the race, consider the key questions that are shaping the discourse and ask what all of this means for investors. Hear from two of the key contributors to UBS’s ElectionWatch as they report on the theme: Tom McLoughlin, head of fixed income for the Americas, and Nadia Lovell, senior US equity strategist. Plus: Lydia Saad, director of US social research at Gallup, on what the latest polling reveals about voter priorities.
To help address the big questions that shape our world, UBS has sought out a number of Nobel laureates in the Economic Sciences to ask them to share insights, discuss their research and open their inquiring minds. This week we hear from Daniel Kahneman, winner in 2002 for integrating insights from psychological research into economics, especially concerning human judgement and decision-making under uncertainty. We discuss his newest book, “Noise: A Flaw in Human Judgement”, and consider how noise infiltrates different parts of society.
Gender lens investing is an attempt to address one of the great inefficiencies of the financial system: its failure to effectively channel money to female entrepreneurs and female-led businesses. Gender Smart is a global field-building initiative dedicated to unlocking the deployment of strategic, effective gender-smart capital at scale. We hear from its co-founder about the Gender Smart Investing Summit and the ‘State of The Field 2022’ report. Plus: insights from UBS Global Wealth Management chief economist, Paul Donovan.
We explore the annual report that brings an up-to-date take on global urban-housing markets and gauges the “bubble risk” in the residential property markets of 25 major international cities. The 2022 edition sets a scene characterised by strong house-price growth, high imbalances in certain geographies and ongoing issues around affordability. It also charts the increase in household leveraging and how the return of people to major cities continues to drive urbanisation. With Matthias Holzhey, Dean Turner and Jonathan Woloshin.
On last week’s programme we dipped into the UBS Global Wealth Management CIO Q4 outlook and (among other things) we talked about private markets with alternative-investment strategist Antoinette Zuidweg. She is back this week to share further private-market insights – this time focusing on the longer-term investment theme of the food revolution. Plus: Wayne Gordon explains how investors can position themselves to take advantage in this space.
The 4Q outlook from the UBS Global Wealth Management CIO explains why a third quarter characterised by volatility means that the time is right to be invested, diversified and selective. Our panel outlines the themes that represent CIO market preferences: defensives, income, value, diversity and security. With Vince Heaney and Antoinette Zuidweg.
To help address the big questions that shape our world, UBS has sought out a number of Nobel laureates in the Economic Sciences to share insights, discuss their research and open their inquiring minds. This week we hear from David Card, 2021’s winner for his contribution in the field of labour economics. Card explains what drives wage inequality within the labour market.
A freshly published report from the Chief Investment Office of UBS Global Wealth Management presents the bank’s Longer Term Investment (LTI) themes for a multi-year investment horizon. Our panellists explain how UBS approaches sustainable investing for LTIs and discuss some of the individual investment topics that are driven by both big secular themes and other more disruptive forces.
To mark United Nations international literacy day, we shine a spotlight on a new UBS publication: ‘Learning for Life: A Guide for Philanthropists and Changemakers to Bring Quality Education to All’. The paper explores how to achieve UN Sustainable Development Goal No 4, which aims to ensure inclusive and equitable quality education and promote lifelong learning opportunities for all. As well as the CEO of the UBS Optimus Foundation, we hear from education innovator Joe Wolf of Imagine Worldwide, one of the thought leaders and innovators that UBS supports and celebrates through its Global Visionaries programme.
Reflections on the Fed, inflation, ongoing volatility and the likelihood of a recession in the eurozone. The panel discusses what UBS chief investment officer Mark Haefele has described as the economic ‘bizarro world’ in which we currently find ourselves. And, later in the programme, we’ll head Stateside for a quick update following the Fed Chair’s hawkish speech on inflation at Jackson Hole.
With the US dollar index hitting its highest level in 20 years, investors have certainly been paying closer attention to foreign exchange markets. Today we dip into a recent tutorial on the theme from the UBS Global Wealth Management CIO to explore various factors that drive currency movement.
We celebrate 75 years of the world-famous festival and its 40-year partnership with UBS. The managing director tells us about the event’s evolving mission through the years, how film festivals can shape the public discourse, as well as a more sustainable future, and the latest exciting manifestation of the UBS partnership: the new ‘Futurespectives’ podcast.
Christoph Gebald of Climeworks is one of the thought leaders and innovators that UBS supports and celebrates through its Global Visionaries programme. Climeworks’ mission is to capture and permanently remove carbon dioxide from the air using a technology called “direct air capture”. Founded by Gebald and his engineering partner Jan Wurzbacher, the company strives to inspire one billion people to act now, in order to remove both historic and residual CO2 emissions and limit global warming.
With costs soaring, why are consumers still going on holiday? Paul Donovan, chief economist of UBS Global Wealth Management, joins us to reflect on the phenomenon and to consider what it means for economic forecasting.
What could a shift in the balance of domestic US power after the midterms mean for the relationship between the two global powerhouses? Our guests in the US and Hong Kong unpack the complexities of the political and economic dynamics between Beijing and Washington.
Exploring the new white paper from the UBS Sustainability & Impact Institute. Joining the discussion are the head of the institute, Mike Ryan, as well as Judson Berkey from the Chief Sustainability Office at UBS. They discuss what’s required in order to preserve and regenerate the earth’s limited stock of natural capital, from policy innovations and new frameworks to the role that investors and the private sector can play.
Wayne Gordon and Giovanni Staunovo join us to discuss a UBS Global Wealth Management CIO report that focuses on agriculture. They talk about how the war in Ukraine has affected the sector, the pressure caused by high energy prices and the profound challenges posed by climate change.
We’re joined by the co-head of global markets distribution within UBS Investment Bank for an update on last week’s conference on sustainable finance. Kevin Arnold sums up the event and discusses some of the key questions in the environmental, social and governance (ESG) field.
The most authoritative survey of official reserve management activities was conducted between April and June, collecting responses from more than 30 central banks around the world. The head of strategy and advice in UBS Asset Management’s global sovereign market team joins us to discuss managers’ economic concerns, their thoughts on strategic asset allocation and the effects of sanctions and geopolitics on their work.
Will the second half of 2022 see stagflation or reflation, soft landing or slump? Those are four scenarios unpacked in the UBS Wealth Management CIO’s Q3 Outlook. The report’s editor in chief, Kiran Ganesh, joins Paul Donovan, chief economist of UBS Wealth Management, to discuss the findings.
Monocle’s culture editor, Chiara Rimella, reports from Art Basel as we mark UBS’s ongoing global lead partnership with the fair. The programme features UBS’s Christl Novakovic, Giovanni Carmine, director of the fair’s Unlimited section, and Samuel Leuenberger, curator of its Parcours strand.
The chief investment officer for global family and institutional wealth at UBS Wealth Management discusses the third iteration of the world’s largest and most comprehensive study of single-family offices. What explains the current period of transformation? And why is a significant strategic shift in asset allocation, first discussed in last year’s edition, continuing to gain pace?
Chris and Jennifer of Afriscout are two of the thought leaders and innovators that UBS supports and celebrates through its Global Visionaries programme. Afriscout’s mission is to address the enormous challenges faced by African livestock herders, who collectively lose a third of their animals every year due to inadequate pasture or water.
Carey Shuffman, head of the women’s segment at UBS, gives insights into the latest in the company’s series of reports that collect data from women in the US and around the world about how they approach and engage with major financial decisions. This year’s edition has some striking findings: women are increasingly acting on their convictions to pursue greater purpose in their lives and intentionally using their financial resources, time and purchasing power in a way that aligns with their values.
The war in Ukraine has accelerated a number of trends fuelled by the pandemic and has put international relationships and global dependencies under scrutiny. The conflict promises to reshape with whom – and how – business is done, as international relationships and alliances are reassessed. Our UBS panel unpacks three key trends in this changed world: the so-called “three Ds” of deglobalisation, decarbonisation and defence.
At a time when inflation is high and fears about central bank overreactions are driving markets, how can investors tap into opportunities? As well as an overview on positioning for inflation, we take a deeper dive into sustainable fixed income.
UBS Global Wealth Management’s chief economist Paul Donovan explains why inflation is almost certain to fall in developed economies in the second half of 2022. He explains the effect of a normalisation in demand for products that resulted in a surge in demand in 2021 and why comparing recent prices with those from the same time last year, when we were in lockdown, can be misleading. He also discusses why containing wage costs makes a fall more likely.
Emmanuel Macron’s re-election as president promises continuity and a degree of certainty for the French economy and Europe’s wider political dynamics. Our panel from UBS considers his domestic agenda and discusses how he can implement his green deal in the face of a potentially more fragmented France.
Delivering insights into the people, places and products shaping the financial week ahead. Hear from the finest minds and freshest thinkers as they take you beyond the numbers and the hype to get to the heart of the day’s big issues.
Dr Clare McAndrew, author of the annual global art-market report, joins UBS Global Wealth Management’s chief economist, Paul Donovan, to discuss the findings of this year’s edition. The report is created by McAndrew’s Arts Economics for Art Basel, in partnership with UBS, and presents information based on data gathered from dealers, auction houses, collectors, art fairs, industry experts and others involved in the art trade.
Investment capital and co-ordinated action are needed to achieve a more sustainable future and avoid the worst consequences of global warming. Even as societal and investor focus increasingly swing towards prioritising social and environmental outcomes, impact investing and strategic philanthropy remain too narrow in focus and modest in scale. The opportunity ahead is not only to drive more capital into these two approaches but also to apply the key features of these solutions – intentionality, outcomes focus, measurability, additionality – to transform other areas of finance and society. Our panel explains what this process could look like and why it matters.
The UBS Wealth Management CIO’s Q2 Outlook details some of the ways in which investors can manage the portfolio risks emanating from the Russian invasion of Ukraine, as well as from high inflation, rising interest rates and ongoing market volatility. The report’s editor in chief Kiran Ganesh and his colleague Karim Cherif explain that while the range of potential outcomes is certainly broad, it doesn’t mean that investors can’t take proactive steps to navigate the choppy waters.
We present a special primer on energy price volatility and the implications of the recent spikes and fluctuations for economies and investors. Paul Donovan, chief economist of UBS Wealth Management, joins us to discuss how the situation is shaping the geopolitical, economic and consumer prices landscape.
Could the conflict in Ukraine trigger a global recession? Our guest this week explains the outlook for commodities and discusses the hedging options that exist for investors in such times of turbulence.
Beyond the appalling human cost and urgent humanitarian crisis that is gripping eastern Europe, the conflict in Ukraine has also sent global equity markets tumbling. Commodity prices have increased and the price and supply of oil and gas have been dislocated. More broadly, the war has also prompted a reframing of the narrative around energy transition and dependency. This week, we take a deeper dive into carbon and explore this emerging sustainable asset. Our special guest from the UBS CIO places the theme in the context of Russia’s invasion of Ukraine and the impact that this destructive conflict is having across markets, energy and more.
In a special programme to mark International Women’s Day on 8 March, we hear from Marianna Mamou, head of Advice Beyond Investing in the chief investment office of UBS Global Wealth Management, and Eva Lindholm, CEO of wealth management at UBS for the UK and Jersey. Mamou and Lindholm discuss the importance of women making their own financial decisions and how the whole wealth management industry must change to better support women in taking control. They also consider how a renewed emphasis on investing with purpose, in accordance with values and driven by a need for impact, is reshaping the way that women investors globally take investment decisions.
With the shattering events of recent days in Ukraine dominating the global news agenda, this week our guests are exploring the intersection of geopolitics and investing. The ongoing conflict between Russia and Ukraine means that short-term volatility is set to continue; but what does that mean, whether for markets or for energy supplies and prices? How should investors attempt to make sense of what’s happening – and use those lessons to ensure that they have a well-balanced and robust portfolio? Experts from UBS’s global team share their reaction to the invasion and explain the importance of being part of a strong and international team in turbulent times.
What is the transformational power of synthetic biology and how do we harness it for the collective good? Amy Webb is the founder of the Future Today Institute, a professor at NYU Stern School of Business and best-selling author of ‘The Big Nine’ and new book ‘The Genesis Machine’. Webb explains how synthetic biology is powering scientific and technological breakthroughs.
Chris Kerr and Chad Sarno of Good Catch and Gathered Foods are two of the most recently appointed thought-leaders and innovators that UBS supports and celebrates through its Global Visionaries programme. Kerr and Sarno’s mission is to use their decades of experience in impact investing and culinary innovation to harness the power of plant-based food to change the way we fish, farm, eat and live.
This week, UBS publishes a fascinating, in-depth guide for philanthropists and change-makers concerned with improving health for all in line with the UN Sustainable Development Goal number 3. On the panel are Phyllis Kurlander Costanza, head of social impact and CEO of the Optimus Foundation at UBS, and Jenny Schecter, co-founder and CEO of Integrate Health, a pioneer in innovative, integrated solutions in this space, which is featured as a case study in the report.
The winner of the 2002 Nobel prize in economic sciences talks about his book ‘Noise: A Flaw in Human Judgment’, which explores why people make bad judgements – and how they can make better ones. This is the latest in a series of special programmes featuring highlights from UBS’s flagship Greater China Conference, the 22nd edition of which took place in January.
Are commodities heading into a green supercycle? With demand for metals and energy to build green infrastructure rising, our global panel from UBS discusses the inflationary pressures that could result from accelerating decarbonisation.
What are the dilemmas facing central banks? The UBS GCC 2022 has been taking place this week, featuring a packed schedule of presentations from sector experts and thought leaders from across the world. In the coming weeks on this programme, we’ll be looking back at the GCC to bring you insights and highlights, starting with a review of a panel entitled, ‘Monetary policy 2022: behind the curve?’
The trend of technological disruption affords significant opportunity for investors, not just in 2022 but through the whole of the next decade. The ABC technologies – “A” is for artificial intelligence, “B” for big data and “C” for cybersecurity – along with 5G, are expected to grow faster than the technology sector as a whole. Plugging into these growth drivers requires investors to look beyond just mega-cap technology stocks and focus on mid-cap names that could prove to be the “next big thing”.
Our annual outlook on the next 12 months courtesy of the eponymous report from the UBS Global Wealth Management CIO. Our panel explains why financial markets face a year of discovery as ‘normal’ rates of growth and inflation return. Plus: how will economic policy respond after two years dominated by the effects of the pandemic? As ever, we’ll also consider some smart investment ideas for the next 12 months, from buying the winners from global growth to diversification and seeking unconventional yield.
Exploring the innovative social-impact initiative that connects UBS’s philanthropic clients on issues that matter most to them. Led by UBS’s Philanthropy Services team, UBS Collectives will help clients combine their expertise and mobilise their capital to fund initiatives that address themes like child protection, climate change, health and education. On the show to explain exactly how it works is Tom Hall, global head of philanthropy services at UBS.
This is the last of our special editions featuring highlights from the 2021 UBS European Conference, the annual forum that brings together leading political, economic and monetary-policy experts. Over the past decade or so, the Conference has become one of the most important European industry meetings for institutional investors, corporates and policy-makers alike. This week we reflect on a panel that discussed the possibility of the luxury sector reaching a tipping point in China and the US.
UBS’s group head of human resources explains how agility, innovation and hybrid working are not only helping great businesses to thrive in the pandemic but permanently and positively reshaping the future of work.
In 2021 the prices of goods and services rose more than they did in any year since 2008, leading to wide-ranging concerns about the potential effects on consumer spending, interest rates and corporate margins. The UBS Wealth Management CIO’s Year Ahead suggests that inflation falls in 2022, reducing those concerns and supporting equities. But what if inflation proves somewhat stickier?
What are the pivotal issues shaping the investment landscape? Find out in the latest special edition featuring highlights from the 2021 UBS European Conference and insights from leading political, economic and monetary-policy experts. The Conference has become one of the most important European industry meetings for institutional investors, corporates and policy-makers alike. This week we feature highlights from a panel chaired by the CEO of UBS on frontiers in sustainable finance and learnings from a panel on the journey to net zero.
What are the pivotal issues shaping the investment landscape? Find out in the first of two special editions featuring highlights from the 2021 UBS European Conference, the annual forum that brings together the leading political, economic and monetary policy experts. Over the past decade or so the conference has become one of the most important European industry meetings for institutional investors, corporates and policy-makers alike. Featuring highlights from the introductory sessions on monetary policy hosted by UBS Chairman Dr Axel Weber.
As Cop26 concludes in Glasgow, we take the temperature of global greentech investment opportunities, thanks to a new report from the UBS Global Wealth Management CIO. Some of the report’s co-authors describe the shift in global momentum to tackle the climate crisis, which has been happening over the last decade. While progress has been made on many fronts, including huge strides in renewable energy generation, much more remains to be done, and speed will be of the essence. So what does that process look like – and what does it mean for smart investors who are looking to make an enduring impact?
This week we are joined by another of the inspirational thought leaders and innovators that UBS supports and celebrates through its Global Visionaries programme. This time it’s the turn of Ginger Krieg Dosier of Biomason. Biomason’s mission is to reduce carbon emissions from concrete production and lead the transition to a truly planet-friendly construction industry.
One of the editors-in-chief of this primer from the UBS CIO explains why the time was right to demystify cryptocurrencies, shine a light on the risks for investors and stress the importance of looking beyond crypto at the underlying technologies.
We discuss the findings of the fifth Global Real Estate Bubble Index, an annual study from UBS Global Wealth Management’s Chief Investment Office which gauges the “bubble risk” in the residential property market in 25 major cities around the world. On the agenda: how pandemic-related restrictions and the rise of remote working have actually weakened the case for urban housing. Plus: why a lack of affordability of home-ownership for large parts of the population has been no obstacle to price increases.
Special guests from MPM Capital and UBS Global Wealth Management discuss the second Oncology Impact Fund. The $850m fund (which follows the record-setting success of the UBS OIF 1 that we covered on this programme back in 2016) is an impact-investing initiative that invests in private and public companies that are developing innovative treatments and novel therapeutics. Hear how this reimagining of the power of investment helps to fight cancer while at the same time generating compelling financial return for investors.
This week we are joined by another of the inspirational thought leaders and innovators who UBS supports and celebrates through its Global Visionaries programme. This time it’s the turn of Ajaita Shah, founder and CEO of Frontier Markets. Shah’s mission is to use technology to empower women entrepreneurs to provide last-mile products and services in rural India.
The federal election delivered a much closer result than opinion polls predicted, with the SPD winning the most votes, just ahead of the CDU/CSU bloc. The Greens polled worse than expected as did the left-wing Die Linke party, making a coalition of left-leaning parties unviable. With coalition talks likely to take weeks, or even months, our panel discusses how a protracted period of coalition-building could reshape the investment agenda.
Global equities rallied to new highs in the third quarter, powered by strong economic and corporate earnings growth – particularly in the US and Europe. Unusually, this has coincided with a sharp fall in bond yields, with the US 10-year dropping as low as 1.2 per cent and US high-yield bonds now trading at around 4.4 per cent. Our panel discusses how investors can best position themselves to navigate this landscape.
We’re off to the fair! As Art Basel makes its much-anticipated return this week, we discuss the mood among fair-goers. Plus: we take a timely look at UBS and Art Basel’s jointly published, mid-year review, ‘Resilience in the Dealer Sector’, which was authored by renowned cultural economist Dr Clare McAndrew. The survey presents an analysis of the global dealer sector in the first half of the year amid the continued challenges of the pandemic. Featuring insights from UBS Wealth Management Chief Economist, Paul Donovan, and Monocle’s Robert Bound.
What does the evolving bilateral relationship mean for investors? The two editors in chief of a new report from the UBS global wealth management Chief Investment Office analyse the relationship and some of the key areas that define it, from trade and capital entanglement, to technology and cybersecurity.
What caused the recent rises in inflation? We consider the implications for investors and the prospect of inflation dropping as a result of potential changes in supply and demand. Plus: a view on central banks and potential policy responses.
Head behind the scenes of the construction of the superb UBS Arena in New York. Hailed as “a new arena for a new era” this unique and incredibly innovative facility will provide a base for the New York Islanders, the only NHL franchise without a permanent home. Ahead of the November opening date, we take a virtual tour in the company of UBS’s head of brand activation and sponsorship for the Americas and the president of global partnerships for Oak View Group, the developers making what was once just a dream in Belmont Park a reality – in time for the new NHL season.
Our panel from the UBS Global Wealth Management CIO on reasons to borrow, how debt can help investors meet their goals – and why its costs and risks should be managed rather than avoided.
Maximilian Kunkel of UBS Global Wealth Management CIO and Monocle’s news editor, Christopher Cermak, look ahead to Germany’s federal elections on 26 September. Historically, the country’s elections have not been a major concern for investors, as the electoral system favours stability and evolution. While this will remain the case, the balance of power in German politics is shifting. Our panel discusses what that shift looks like and considers what it means for investors.
An updated Q Series report from UBS Global Research explores how the rollout of space tourism and the resulting revenues are aiding the development and democratisation of the space ecosystem. There is now a greater amount of private capital and investor interest, with a number of space-related businesses and new forms of aviation companies coming to the market. Up for discussion are the effects of the coronavirus pandemic, the pace of technological advance and how setbacks and delays have shaped the sector.
We are joined by another of the inspirational thought leaders and innovators that UBS supports and celebrates through its Global Visionaries programme. This time it’s the turn of Kamran Khan, founder and CEO of BlueDot. The company’s mission is to protect people around the world from infectious diseases by combining medical expertise with advanced data analytics to track and anticipate disease risks.
This new report from UBS Global Wealth Management explains how and why its CIO is updating forecasts to reflect a neutral view on the US dollar this year. We’ll hear from one of our regular chroniclers of currency market moves in London and from one of the report’s co-authors in Zurich. They’ll talk about the ongoing coronavirus situation, central bank intentions, inflationary pressures, where we are in the economic recovery and what all of this means for currency markets.
The lifecycle of digital data offers opportunities for private equity investors along the value chain. Applications and services that help to create, store, secure and analyse rapidly growing amounts of data will be beneficiaries in the digital era. Two of the authors of a new report from UBS Global Wealth Management unpack the digital trends that will shape the next decade and beyond, and how these trends shape investment opportunity.
How fast is the post-coronavirus economic recovery happening and what does this mean for markets? Our panel explores ideas for growth, income and protection and addresses some key questions at the top of investors’ minds after a first half of 2021 that delivered faster-than-expected vaccine rollouts, a bigger-than-expected US fiscal stimulus, higher-than-expected inflation and strong economic and corporate earnings growth.
An incredible acceleration in the use of digital technologies within the arts has not only enabled access but also created explosive possibilities as a medium in itself. From online viewing rooms to R&D, the applications of technology in the arts are wide-ranging and increasingly influential. In this special edition of the programme Candida Gertler of The Vov and Serpentine Galleries’ Kay Watson discuss the impact of digital technologies in the arts and how these advances have helped artists and institutions respond in today’s changing environment.
Today we’re discussing a new report from the CIO of UBS Global Wealth Management, which asks: “Why are LGBTQ+ investors different?” The reality is that these communities might need to invest differently simply because full legal and social equality doesn’t exist anywhere in the world. So how should LGBTQ+ people build investment strategies to help meet their goals? We’ll consider the investment implications of factors like family, job security, urban living and investing with values in mind.
We explore how Asia is looking to claim pole position in the worldwide race for electric-vehicle supremacy. China is upping the ante and funneling vast amounts of investment into its EV industry, becoming a hotbed for innovation, from batteries to autonomous-driving software. Japan and Korea, too, have entered the fray and are pledging policy support and investment to become EV powerhouses. So what do opportunities across the space look like for investors?
The UBS Global Wealth Management ‘Investor Watch’ series documents the results of a regular survey of thousands of investors across multiple regions. Jeff Scott, head of client and advisor insights, talks us through the main findings with a particular focus on the impact of coronavirus on investor sentiment and intention. What are the new priorities for investors in a post-pandemic world?
Mary Rozell, Global Head of the UBS art collection, meets artist Jeffrey Gibson at his studio in Hudson, New York. As well as Gibson’s life and work, they discuss two pieces – 2019’s “You have set my soul on fire”’ and 2020’s “Don’t you want me like I want you” – that UBS has recently acquired for its collection. Gibson explains how these works capture a unique visual vocabulary closely linked to his Cherokee and Choctaw heritage.
A special edition of the programme exploring how UBS advocates for equality, featuring insights from UBS’s Karen Yen, Chetan Tolia and Maura Gallagher-Vaughn. UBS takes a broad approach to DE&I, so the discussion takes in everything from accountability and transparency to improving the culture; from leveraging the bank’s core strengths to updating training to include education and awareness with race and ethnicity embedded.
A new report in the “longer-term investments” series from the CIO of UBS Global Wealth Management. Family businesses tend to follow longer-term strategies that align the interests of company management and the family’s values. Is this why they frequently offer superior growth and risk-return characteristics? Featuring Nena Winkler and Stefan Meyer of UBS Switzerland and some insights from one of Monocle’s editors.
The latest report from UBS Global Wealth Management considers why women abdicate financial decisions and addresses what that inequality costs couples in the longer term. The report found that just 20 per cent of couples participate equally in financial decisions. Carey Shuffman, head of the Women’s Strategic Client Segment, joins Kimberly Twombly, financial advisor at UBS Global Wealth Management, to discuss the urgent need for change.
Justin Waring and Kiran Ganesh from the Chief Investment Office of UBS Global Wealth Management discuss how to balance short-term liquidity needs with putting cash to work. Recent UBS Investor Sentiment survey findings show that more than 60 per cent of investors hold at least 10 per cent of their assets in cash; and that the average investor holds about 22 per cent of their assets in cash and cash-equivalents. But how does the smart investor ensure the right balance in their portfolio?
Friday 30 April marked the 100th day of US president Joe Biden’s term. On that theme we’re discussing a report from the UBS Global Wealth Management CIO. As well as providing some historical context, we’ll gauge both market and investor reaction to the early days of Biden’s presidency and hear from some fascinating voices from across the political spectrum and other sectors.
We discuss a new report from the UBS Global Wealth Management CIO, published on Earth Day. Current standards of living and overall levels of consumption are unsustainable in relation to the planet’s finite resources. The Future of Earth report explores the financial, social and environmental benefits of investing in a more sustainable future.
Ahead of the launch of a new paper, UBS’s Angela Wiebeck is joined by special guests from Harvard Business School and Impact Institute to discuss the Banking for Impact group. This collaboration recognises that the financial services sector is uniquely well placed to lead in the creation of a common impact measurement and valuation approach to pricing risk. Discover how these partners and innovators are leading the transition to an impact economy.
A special programme exploring the growth of impact investing and its increasing importance within sustainable finance. Alongside guests from UBS (who talk about the bank’s remarkable journey towards meeting its own hugely ambitious impact-investing commitments), we’ll meet some of its key partners, including mutual fund Federated Hermes and the venture firm behind the Oncology Impact Fund, MPM Capital.
We explore the UBS Global Wealth Management CIO’s second-quarter outlook, which considers how investors should be positioning for a post-pandemic world. The editor in chief of the report and the co-head of global asset allocation in the UBS WM CIO join the programme to discuss navigating the high growth, rising inflation, low interest-rate and volatile backdrop to the ‘reflation’ phase of the recovery.
Art Basel and UBS have published their fifth annual Global Art Market Report, authored by the renowned cultural economist Clare McAndrew. McAndrew joins Noah Horowitz, Americas director at Art Basel, and UBS Global Wealth Management chief economist Paul Donovan to discuss the findings. The report integrates insight from a recent survey of more than 2,500 high-net-worth collectors across 10 markets – including mainland China for the first time – as well as data from UBS Evidence Lab. A comprehensive and macro-level analysis of the global art market in 2020, the report analyzes how the coronavirus pandemic has impacted the market and identifies key trends that will shape this year and beyond.
UBS marks the United Nations International Day of Forests by publishing a paper, ‘Seeds of Change’, exploring UN Sustainable Development Goal 15: “Life on Land”. The report unpacks the challenge presented to the planet by a reduction in forest cover, habitats and diversity, and considers how philanthropists and investors can help to drive positive change.
In the past 20 years, China’s economy has grown fivefold and its equity market capitalisation has increased by 25 times. Despite this, many global investors are significantly underallocated in China relative to its weight in global benchmarks, whether due to insufficient understanding of the opportunity and market complexity, or other factors. Two of the authors of a new UBS report join the programme to help us better understand the landscape and to explain how global investors can position themselves to take advantage.
A new report from UBS Global Wealth Management reveals a shocking funding gap between investors and female entrepreneurs. Around the world, they receive less funding than their male counterparts and the reality is even more pronounced for women of colour and those in developing countries. As a result of the funding discrepancy, female entrepreneurs lack equal opportunities to innovate and build successful companies that can contribute to the global economy. This is despite the fact that those who do receive funding develop businesses that perform as well – or better – than their male counterparts.
Two of the authors of a new report from the Chief Investment Office of UBS Global Wealth Management explain how private markets fit into a liquidity, longevity, legacy approach to investment and discuss how a lower-return environment is driving investor appetites for alternative instruments.
A special roundtable discussion exploring a recently launched UBS strategic client segment in the US called “Rising Gen”. Giselle Rivera, head of Rising Gen, and Arminé Babayan, a financial adviser serving these clients across technology, entertainment and the start-up world, explain why the generation of investors under 40 is resilient, ready and resourceful, despite the unprecedented impact of coronavirus.
The lead author of a freshly published report looking at longer term investments discusses its conclusions with the chief economist of UBS Wealth Management and the CEO for the UK & Jersey. Diversity and economic inequalities have come to the fore following social and political flashpoints in advanced economies and beyond, making these themes ever more important for investors.
The UBS Greater China Conference (GCC) 2021 took place last month, featuring a packed schedule of presentations from sector experts and thought leaders from across the world. In the coming weeks on this programme we’ll be looking back at the GCC to bring you insights and highlights, starting with a review of a fascinating panel entitled “Economy of Wellness: The $4.5tn business of health and wellbeing”.
A new UBS paper on the trends that are set to shape sustainable finance in 2021, published this week for the WEF’s Davos Agenda (virtual) meetings, addresses challenges linked to the Covid-19 pandemic. While UBS has been at the forefront of sustainable finance for more than 20 years, 2020 proved that this topic has entered the mainstream – and not just as a talking point but as a driver of valuation and a catalyst for action.
Founder and CEO of Luminary, Cate Luzio (pictured), and Carey Shuffman, head of the Women’s Strategic Client Segment in UBS, discuss the UBS x Luminary Fellowship Program, which aims to support businesses owned by women of colour who have been disproportionately affected by the pandemic. It does so by delivering them the tools needed to rebuild, maintain, manage and grow their companies.
There is a growing schism between growth assets (high tech, resilient, high sustainability rating) and value assets (low tech, cyclical, low sustainability rating); it’s as though 90 per cent of investors were exclusively interested in owning 10 per cent of assets. But who will buy and manage these stranded assets as the world transitions to a high-tech, net-zero emission environment? We discuss with Laurent Bouvier, global head of the Global Industrials Group at UBS.
Due to the global coronavirus pandemic, investors are facing a challenge of unprecedented near-term sales declines. The head of UBS’s travel and leisure equity research team in Europe considers whether corporates can deliver sufficient short-term damage control to enable investors in this space to look at the longer term with confidence.
What are the prospects of a return to normal in the European luxury sector this year? UBS’s head of European luxury goods is here to explain how this sector proved its premium valuation in a turbulent year. Plus: what might the risks associated with that return to normal look like – and how will companies in this sector be looking to move back to 2019 levels of sales and profitability?
We meet another of the inspirational thought leaders and innovators who UBS support and celebrate through its Global Visionaries programme. This time it’s the turn of SheEO founder Vicki Saunders, who joins us in conversation with Eva Lindholm, CEO of Wealth Management at UBS for the UK and Jersey. SheEO’s mission is to use its ecosystem-based model to dramatically improve outcomes for women entrepreneurs.
Donald Trump’s legal manoeuvres failed to affect the formal electoral vote count in each of the states. President-elect Joe Biden garnered 306 electoral votes, which is likely to be enough to ensure a formal declaration by Congress on 6 January. So what does this mean for the weeks, months and years ahead? Can we start to formulate a sense of what Biden’s America will look and feel like? And once the dust settles on this torrid political chapter, what else will be shaping the future for the US on every level from political to economic to social?
Our panel gauges the impact of a fraught week of will they/won’t they negotiations in Brussels over the prospects for a last-minute trade deal. Up for discussion are the near-term risks, as well as consideration of some key longer-term questions such as how the latest developments fit with structural changes across the bloc and around the world.
‘Profit and Prejudice: The Luddites of the Fourth Industrial Revolution’ is the brilliant new book by one of this programme’s regular voices, Paul Donovan, chief economist of UBS Global Wealth Management. In the book, published last month by Routledge, Donovan sets out the reasons why avoiding prejudice will be critical to economic success in a period of profound transition. He explains why the proper use of technology, with diverse decision-making, can be the difference between success and failure in a changing world. Featuring insights from Henley Business School’s Naeema Pasha.
Following the launch of Apple’s first 5G phone and with 5G applications set to generate trillions of dollars of economic value in the next decade, our panel considers whether 5G is the ‘next big thing’ for investors.
The latest annual investment research report from the CIO of UBS Wealth Management is subtitled (perhaps inevitably given the last nine months) ‘A Year of Renewal’. Our panellists explore how best to navigate the next 12 months: from whether and how the world will shift back to pre-pandemic norms to the prospect of renewed growth, the hunt for yield and setting the optimum course through a new – and renewable – future.
UBS Q-Series research, powered by the UBS Evidence Lab, connects the dots across asset classes, geographies and sectors. Today we explore a new Q-Series report entitled: ‘Tearing down the heart of an electric car: cost parity a closer reality?’ One of the authors of the piece tells us more about the batteries at the heart of the electric vehicle story. The drive for cost parity with internal combustion engines is critical in this space: it’s crucial in terms of making electric cars a mass-market technology and reducing battery cost is also fundamental for those looking to win in the highly competitive auto-OEM landscape.
As the dust settles on an extraordinary race for the White House, a panel of our regular contributors share insights into the seismic political, economic and market vibrations caused by an unprecedented election day and its aftermath.
Thanks to the insights of Karim Cherif and Georg Weidlich from the UBS Global Wealth Management CIO, we present the next installment in a special season of features exploring hedge funds. In part two, Georg Weidlich heads into the studio to field questions about convertible arbitrage.
As the final week of campaigning for the US presidential election begins, we peruse the latest Election Watch piece from the CIO in UBS Global Wealth Management. Our global panel of experts from UBS assesses the fierce political race taking place against an extraordinarily turbulent backdrop. We’ll hear from the US, get a view on the implications of different election scenarios on emerging markets and consider the European implications.
A special edition based on a report from Karim Cherif and Georg Weidlich in the UBS Global Wealth Management CIO. Learn how hedge funds help to reduce risk and add diversification in multi-asset portfolios, and understand how to balance strategies and styles to diversify sources of return and optimise the chances of positive performance.
The 2020 edition of the annual report from UBS and PwC explores how the fortunes of billionaires are continuing to polarise after a year of dramatic upheaval. Our panel explains how a cohort of billionaire innovators and disruptors has pulled ahead of its peers.
Price bubbles refer to substantial, sustained mispricing of a particular asset, the existence of which cannot be proved – unless or until the bubble bursts. The annual UBS Index gauges the risk of such a bubble in housing markets and which cities are at the highest risk. While the spectre of a global recession has haunted housing markets for years, and despite the sharpest global economic downturn in more than 60 years, house prices have actually accelerated in the last four quarters. Our panel today discusses how continuing economic volatility has amplified uncertainties around urban housing.
This week we are joined by another of the inspirational thought leaders and innovators that UBS supports and celebrates through its Global Visionaries programme. This time it’s the turn of Daniel Cordaro of The Contentment Foundation. Cordaro’s mission is to improve the lives of millions around the world by creating scalable mental wellbeing technologies and transformative programs for institutions.
A fascinating new report from UBS takes a deep dive into the changing lifestyles and rising opportunities humanity is facing in light of demographic trends and structural shifts – and considers how these forces are enabled and accelerated by technology. As well as the future of education and healthcare, the report also examines the future of consumer preferences and the very path to human happiness.
This week, UBS made sustainable investments (SI) the preferred recommendation for clients of its $2.6trn global wealth-management business. UBS is the first major financial institution to recommend SI over traditional investments for private clients globally. Managing close to $500bn in core sustainable assets, this reinforces UBS’s almost 25-year track record in sustainable investing across all its business divisions. The Chair of UBS’s Sustainable Finance Committee and the Head of Sustainable and Impact Investing at UBS Global Wealth Management explain the significance of the move.
Several of the inspirational thought leaders and innovators who UBS supports through its Global Visionaries programme discuss how social entrepreneurs are responding to coronavirus and what they think their enterprises might look like in a post-pandemic world.
This week we are joined by another inspirational thought leader and innovator who UBS supports and celebrates through its Global Visionaries programme. This time it’s the turn of Matteo Berlucchi, CEO and co-founder of Your.MD. Your.MD’s mission is to help a billion people find their health through self-care.
The fourth and final in a season of special programs exploring the art world looks at questions related to artist representation. Our panel, which includes collectors Agnes Gund and Komal Shah, provides an overview on bias in the market and discusses examples of private programs by collectors which tackle marginalization based on gender, race, class and age.
UBS Global Wealth Management’s recent ElectionBrief report gauges the likely global impact of November’s US presidential election. Today’s panel – all of whom contributed to the report – considers the impact of the election for investors around the world, from potential market implications to the best investment approaches to take in the lead-up to the vote.
Exploring the research produced by UBS in partnership with their colleagues from the UBS Evidence Lab. The average assets under management of the 121 clients surveyed is significantly larger than that of any other comparable study in the market, so the findings offer a unique window into the actions of the world’s biggest family offices. Our panellists explain why applying meticulous asset-allocation strategies and rigorous investment processes – coupled with an ability to embrace and manage risk – have enabled Family Offices to weather recent storms.
This week we are joined by two more of the inspirational thought leaders and innovators that UBS supports and celebrates through its Global Visionaries programme. This time it’s the turn of Rodrigo Garcia Gonzalez and Pierre Paslier of Notpla. Notpla is a sustainable start-up whose mission is to eliminate waste and tackle plastic pollution by developing packaging that disappears naturally after use. Notpla is made from one of nature’s finest renewable resources: brown seaweed. This grows up to 1 metre per day, doesn’t compete with food crops, doesn’t need fresh water or fertiliser and actively de-acidifies the world’s oceans.
In the third of our special programmes on the art world, we focus on the long-term potential for digital disruption – beyond the Zooms, online viewing rooms and social-media channels that have dominated our attention during the pandemic. Our panel explains how technological advancements are continuing to disrupt the art world, making it more relevant and accessible to a wider audience.
A new report from the UBS CIO reveals the findings of a survey of more than 3,750 investors across 15 markets globally. More than three quarters of those wealthy investors polled anticipate permanent lifestyle shifts as a consequence of the coronavirus pandemic. Two of the authors and architects of the research explain how the global picture shifts, how investors across markets are planning to adjust their lifestyles after the crisis, and the ways in which Covid-19 has prompted people to change how they think about health and wealth.
The post-pandemic world will present significant challenges and opportunities for investors. The opportunities will come from longer-term structural changes that the pandemic initiated or accelerated. The challenges will come in the form of elevated volatility and lower potential returns from traditional diversifiers. The authors of a UBS report explain why allocating to alternatives can better position portfolios for the future.
To help address the big questions that shape our world, UBS has asked a number of Nobel Laureates in the economic sciences to share insights, discuss their research and open their inquiring minds. This week we hear from Jean Tirole, winner in 2014 for his analysis of market power and regulation.
We explore the impact of the recent ruling from the US Supreme Court codifying the rights of LGBTQ people, which was a surprise verdict from a majority conservative court. Our panel explains why the extension of the protections of the 1964 Civil Rights Act to LGBTQ people is good news – and good economics.
In the second of our season of special programmes exploring the art world we meet Mary Rozell, global head of UBS’s collection of over 30,000 artworks. Rozell is author of ‘The Art Collector’s Handbook: the Definitive Guide to Acquiring and Owning Art’, a new edition of which is being published by Lund Humphries this summer. She discusses some tips for getting started, the growth of online salerooms – and why sharing your collection has never been more important.
We are living in an age defined by the confluence of technology and economic forces: the fourth industrial revolution has transformed manufacturing – and the divide between the digital world and our physical one continues to blur. Today our panel discusses a new UBS report examining how the global economy is built on the back of bits and bots – and explores how investors can benefit from its disruptive power.
To help address the big questions that shape our world, UBS has sought out a number of Nobel laureates in the Economic Sciences to ask them to share insights and discuss their research. This week we hear from Michael Kremer, Gates Professor of Developing Societies in the Department of Economics at Harvard University and joint winner of the 2019 Nobel prize for his experimental approach to alleviating global poverty.
The first in a season of special programmes exploring shifts and trends in the art market – and the impact of the global pandemic. We’ll attempt to answer the big questions confronting the industry and hear from key figures navigating the crisis and beyond: from gallerists to fair directors, from auction-house executives to leading arts economists. Today the author of the annual Art Basel and UBS Art Market Report and other experts discuss both the immediate and longer-term impact of the Covid-19 crisis on the market.
A new UBS report identifies five SI trends arising as a consequence of coronavirus. Two of its authors explain how the crisis has underscored the relevance of ESG (environmental, social and governance) considerations and how those trends will shape the longer-term sustainable-investing landscape.
Sergio Ermotti has steered Swiss multinational UBS since 2011, making him the bank’s longest-serving CEO. During that time he has led the firm through economic headwinds and a major restructuring of its private banking division with a steady hand. When coronavirus struck, and many small and medium-sized enterprises in Switzerland were impacted, UBS, along with the Swiss federal government, proved to be a crucial player in assisting them with liquidity. So just how prepared was the bank for the challenges of a global pandemic? And did their very Swiss-ness help them navigate the challenge?
As the market focuses on the pace of recovery, investors need to consider the structural transformations being driven by this public-health crisis. Our panel explain how investors can manage higher taxation, financial repression and moderately higher inflation, along with populism and protectionism, while navigating the transitions from global to local supply chains, and from physical to digital.
This week we are joined by another of the inspirational thought leaders and innovators who UBS supports and celebrates through its Global Visionaries programme. This time it’s the turn of Jean Nehme, co-founder of Digital Surgery. Now part of medical technology leader Medtronic, Jean’s mission is to use digital technology to solve the problem of global surgical inequality.
What might be the enduring impact of the pandemic on healthcare delivery? Our panel discusses whether the digitisation of the space will accelerate further. We’ll also look at diagnostics, telemedicine and pharmaceuticals, including the issue of vaccines, and discuss the risks inherent in developing new products and technologies.
We talk to another of the inspirational thought leaders and innovators supported and celebrated by UBS through its Global Visionaries programme. Christina Dean is the founder of The R Collective, an upcycled-fashion brand that uses luxury labels’ textile waste to make sustainable clothing.
This is the traveller’s dilemma after Covid-19 – particularly against a backdrop of broader climate-change concerns. We learn how the pandemic is showing industrialised countries what clean air means and how healthier populations cope better with disease. Two of the key authors of a recent UBS Global Research Q-Series piece share their insights and also explore the sectors most and least impacted by the outbreak.
This week we are joined by two of the inspirational thought leaders and innovators who UBS supports through its Global Visionaries programme to discuss the potential impact of the coronavirus outbreak on developing countries.
Today we’re hearing from the UBS Evidence Lab, and finding out how data and analytics are being used to understand ground truth in a world turned upside down by the pandemic. We talk with the creator of the lab to drill down into the relevant datasets to better understand the role that these kind of analytics play in the investment process and hear how the coronavirus outbreak has shocked our “mental maps” of the world.
Our panel discusses the impact of Covid-19 on markets and economies all around the world. Hear two of the sharpest minds from UBS global wealth management as they make sense of a volatile and fast-moving situation that is challenging virtually all stakeholders across public and private life.
Painting a picture of the art market using the latest edition of the Art Basel and UBS Global Art Market Report. We’ll hear from its author, renowned cultural economist Dr Clare McAndrew and our regular panelist from UBS Wealth Management.