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Bank of Singapore turns negative on equities amid growing recession risks

Bank of Singapore

As recession risks edge higher, Bank of Singapore has reduced overall risk exposure in its latest asset allocation strategy by downgrading equities to underweight, the lender told Asian Private Banker by way of an exclusive investment note. To strengthen the defensive capabilities of a balanced portfolio, the Singaporean pure play increased cash exposure from 0% to 7.4% and developed market…

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