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All Insights Currently reading Rules are only the beginning Investment Insights • Sustainability 5 min read Rules are only the beginning Passive ESG investing has made it easier for investors to put preferences into practice. But the more an investor wants to go beyond exclusions, the more important it becomes to understand what rules can and cannot capture. The recently launched SPI ESG 25, a Swiss stock index with an ESG screen, is one example.

You have led organisational transformations at companies from Microsoft to Amazon, Volkswagen and Audi. In your view, what constitutes a successful transformation? I would say that great transformations are those that enable organisations to work in a more agile, transparent and faster way and to innovate more frequently. I also believe that they have three key attributes: First, successful transformations don't have a start and an end point – they are a continuous process.

All Insights Currently reading Sustainability after the reset Investment Insights • Sustainability 5 min read Sustainability after the reset Sustainable investing is going through a reset. Labels and broad ambitions are giving way to harder questions about evidence, implementation and investment relevance. That creates an opportunity to ask a more fundamental question: not simply what the economy needs less of, but what human progress will require more of.

All Insights Currently reading Developed market bonds are back. Where are the best opportunities? Investment Insights • Macro 3 min read Developed market bonds are back. Where are the best opportunities? For the first time in years, developed market bonds are offering investors genuine choice. A world of higher yields has created attractive income opportunities, but not every bond market carries the same risks or rewards.

Shareholder engagement has matured from a niche activity into an established discipline within responsible investing. Alongside voting, it has become a core expression of active ownership, providing investors with a structured way to address financially material environmental, social and governance (ESG) risks before they crystallise, and to seek improvements in corporate practice over time.

Important Information The value of investments and the income derived from them can fall as well as rise, and past performance is no indicator of future performance. Investment products may be subject to investment risks involving, but not limited to, possible loss of all or part of the principal invested.

Based on your long experience as a foreign correspondent and political journalist, what worries you most when looking at the current geopolitical landscape? What I find most disconcerting about the current political landscape is the total lack of predictability about what might happen next. For years, there was certainty over NATO. There was certainty that if one country did X, another country would do Y. We knew which nations stood together and which alliances existed. It all felt quite solid.

Investment Insights • Macro 1 min read The Fed under Warsh: Understanding the task forces One of Kevin Warsh’s first initiatives as Chair of the Federal Reserve has been to launch five task forces to review key aspects of the central bank’s operations. In this Macro Flash Note, EFG’s Chief Economist Stefan Gerlach analyses the membership and mandates of these groups and discusses what they suggest about the direction of reform at the Federal Reserve.

All Insights Currently reading The next AI opportunity may not come from Silicon Valley Investment Insights • Macro 2 min read The next AI opportunity may not come from Silicon Valley Artificial intelligence (AI) is already transforming emerging market indices, but its greatest impact may come from helping developing economies accelerate their productivity growth and leapfrog traditional stages of development.

All Insights Currently reading From asset protection to relocation – key themes in modern wealth planning Investment Insights • News & interviews 2 min read From asset protection to relocation – key themes in modern wealth planning In a changing global landscape, many internationally mobile clients are re‑evaluating where they live, how they hold assets and how their structures are set up.