Over the summer, market volatility has increased (especially in August), reflecting renewed stress in the Chinese property market, weak Chinese macroeconomic data and an increase in sovereign bond yields.

Given this backdrop, global stocks sold off and the MSCI All Country World Index declined 2.8% over the month in US dollar terms. Developed markets outperformed emerging markets, with a loss of 2.3% vs. 6.1%.

Over the summer, VDP successfully assisted Eco Technics in its new partnership with Waterland and the ADW-Adidak-Aditoit Group.

Eco Technics, founded in 2007, is a renowned player in the installation of renewable energy systems, while the ADW-Adidak-Aditoit Group is specialised in flat roofing solutions.

Both companies joined forces to realise mutual growth ambitions, supported by a strong synergy roadmap. This partnership is supported by Waterland in order to obtain a leading position in a consolidating European market.

We hope you enjoyed a relaxing summer break and wish you a happy reading.

Yours sincerely,

The VDP team