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PB clients flee from equity ETFs with “massive redemptions” in August: Vanguard

Investors globally — including private banking clients in Asia — have fled from equity ETFs and moved into their fixed income and gold counterparts, according to asset manager Vanguard, who observed that August has seen the most intense asset shift in three years. “Amid recent market volatility, clients tend to shun away from risk assets and flock to fixed income-related…

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