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MARKETS | Monitor: Recently, European equities performed relatively well - also vs. the US

The good mood in capital markets continued. Equities, bonds and crude oil rallied, driven by continued cautious central banks and better economic data from emerging markets. Cyclical equity sectors and regions benefitted accordingly. Over the last six months, Europe has performed slightly better than the US - despite uncertainty around Brexit, weak economic data and strong outflows of European equity funds. Market participants are counting on the recent stabilisation of the Chinese economy and an improvement in the European economy. Relaxation tendencies in the trade dispute between the US and…

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MARKETS | Monitor: Is the inversion of the US yield curve a warning signal?

Recently, declining bond yields have dominated the headlines. The US yield curve has inverted - a reliable harbinger of an imminent recession in the past - while the 10y German government bond yield has fallen below the Japanese government bond yield. What is going on? Economic data fell short of the already low expectations bringing back growth concerns. Moreover, political concerns have not diminished and safe haven assets remain in demand. In addition, the major central banks in the USA and the Eurozone have sent a sustained signal to the market that they are in no hurry to raise rates,…

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Integration of ESG exclusion criteria into our investment process

Horizon Q2 | The Berenberg Capital Market Outlook


If key political risks subside further, we would expect economic data to stabilise in the course of the second quarter.


Markets are already betting the Fed will lower interest rates in 2020. But only one of two things can happen: either an economic recovery or an interest rate cut.


The fact that investors are not positioned aggressively creates tailwinds for riskier assets at first (assuming that economic data stabilise) – but summer weakness looms on the horizon.

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Berenberg is extending its fund range with sustainable equities fund

Hamburg. In cooperation with Universal-Investment, Berenberg has launched a new ESG fund. Managed by Bernd Deeken, this equities fund, Berenberg Sustainable World Equities, invests in global equities with a focus on sustainability. This makes the fund the third ESG fund of Germany’s oldest private bank, following the Berenberg Sustainable EM Bonds and Berenberg 1590 Stiftung funds launched last year.

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Berenberg Bank Foundation of 1990: Harpist Anaëlle Tourret awarded Berenberg Culture Prize 2019

Hamburg. Around 400 guests attended last night’s Berenberg Culture Prize ceremony at Hamburg's Elbphilharmonie concert hall. The 10,000 euro award went to Harpist Anaëlle Tourret.

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Berenberg increases market share despite declining earnings

Hamburg. Berenberg succeeded in winning market shares once again in 2018 but ended the financial year with a significant fall in net profit for the year to €23 million (previous year: €90 million).

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MARKETS | Focus : Frontier market investments make strategic sense

Frontier market (FM) exposures to equities, and especially bonds, are strategically sound components of multi-asset portfolios. They offer diversification advantages, higher performance potential, and relatively low volatility compared with traditional investment alternatives. Looking back at 2018, the strength of the USD and homemade problems in individual countries weighed on the development of many frontier markets, in both equities and bonds. For bonds, risk premiums versus government bonds from developed countries have risen significantly. Funds specialising in such bonds currently yield…

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Berenberg/HWWI study on “sovereign debt”: “A collapse in growth would be the single largest risk for a new debt crisis”

Hamburg/Frankfurt. The 2008/2009 global financial crisis led to a huge increase in sovereign debt virtually everywhere. The mountain of debt in most countries remains high despite good economic developments in recent years. “In our assessment, a new debt crisis is nevertheless not to be expected if the world sees another one or two years of good economic growth,” says Dr Jörn Quitzau, macroeconomic specialist at Berenberg in the current study entitled “Sovereign Debt” published by private bank Berenberg and the Hamburg Institute of International Economics (HWWI). “The single largest risk is…

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Berenberg ESG-Paper: Understanding the SDGs in Sustainable Investing

Elite Report Award 2019: Berenberg again “Best Asset Manager”

Hamburg/Munich. For the tenth time in a row, the Berenberg private bank has been named “Best Asset Manager” in the German-speaking countries in the Handelsblatt Elite Report.

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Global Private Banking Awards 2018: Berenberg named “Best Private Bank in Germany” for the eighth time in a row“

Hamburg/London. The Berenberg private bank has again been titled “Best Private Bank in Germany” in the Global Private Banking Awards. This is the tenth time the Financial Times Group, with its trade journals The Banker and Professional Wealth Management, has given this coveted annual award. Germany’s oldest private bank is the world’s only institution to gain this title eight times in a row.

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Berenberg Corporate Responsibility Award goes to Ritter Sport

Berenberg Corporate Responsibility: Award goes to Ritter Sport

Hamburg. For the third time, on Thursday in front of 400 guests Germany’s oldest private bank presented the Berenberg Corporate Responsibility Award in Hamburg’s Michel church. This year the award went to Ritter Sport in recognition of the “El Cacao” project, in which the chocolate maker set up its own plantation for sustainable cocoa cultivation on former pastureland in Nicaragua.

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HWWI/Berenberg Culture City Ranking 2018: Stuttgart again Culture Capital No. 1, Dresden edges ahead of Berlin

Hamburg. For the fourth time since 2012, 2014 and 2016, the Hamburg Institute of International Economics (HWWI) and the Berenberg private bank examined the cultural life of the 30 largest cities in Germany. The results: Stuttgart has further extended its lead, and took the title of Germany’s No. 1 Cultural Metropolis for the fourth time. Dresden and Berlin were neck and neck for second place, with Dresden ultimately coming in slightly ahead. Munich and Karlsruhe took fourth and fifth places respectively. Wiesbaden made the most progress in this year’s rankings, jumping ahead ten places, while…

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Family Entrepreneurs Acquire Berenberg Bank (Schweiz) AG

Zurich/Hamburg. A group of shareholders, most notably including entrepreneurs Adrian and Andreas Keller, Michael Pieper, Dr. Andreas Jacobs, as well as Claus-G. Budelmann, will acquire the majority of Berenberg Bank (Schweiz) AG, together with the current Management. After the closing of the transaction, the company will operate under the name «Bergos Berenberg AG». The group of investors will acquire 80.1% of Berenberg Bank (Schweiz). The former sole shareholder, the Hamburg-based private bank Joh. Berenberg, Gossler & Co. KG (Berenberg), will continue to hold 19.9%. This enables the Swiss…

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Berenberg signs Principles of Responsible Investment

Hamburg. The Hamburg-based private bank Berenberg has signed the United Nations-supported Principles for Responsible Investment (UNPRI). In doing so, the second oldest bank in the world has made a commitment to environmental, social and governance (ESG) responsibility, and to integrating these into the investment process.

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Euromoney Awards for Excellence 2018: Berenberg is Germany's best investment bank

London. Berenberg is further expanding its position in investment banking and was named “Best Investment Bank in Germany” in the “Euromoney Awards for Excellence” by the renowned business magazine.


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Back to the future: our 2010-study on the future significance of sustainability (German)

Ethical family-owned companies wanted - Berenberg recognises corporate responsibility

Hamburg. For the third time, Germany’s oldest private bank will award the Berenberg Corporate Responsibility Award. This award recognises family-owned companies in Germany that show a special sense of societal responsibility, be it through social, societal or cultural commitment.

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Berenberg receives award as best asset manager for German equities

Hamburg. Berenberg’s Asset Management division has won the Germany Award of funds rating agency Citywire in the category for German Equities. Citywire has thus named the equities experts who work with Henning Gebhardt, Head of Wealth and Asset Management at Berenberg, as the best investment team available for German investors in this asset class. In addition to the fund performance, factors such as the experience of the individual managers and of the team as a whole were taken into consideration.

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Mark O’Meara joins Berenberg’s brand ambassador programme

Hamburg. Berenberg, the world’s second oldest bank, extends its golf brand ambassador programme with former Masters and British Open champion Mark O’Meara (USA).


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Private Banker International Awards: Berenberg wins award as Germany’s best private bank

Hamburg. Private bank Berenberg has won the title of Germany’s best private bank (Outstanding Private Bank Germany – Domestic Players) at the Private Banker International Awards 2018. The prize for the best bank for ultra high net worth individuals (Outstanding UHNW Offering in Germany) also went to Germany’s oldest private bank.

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