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HNWIs turn to US equities for defensive names: LGT’s Stefan Hofer

Growing more bearish, Hong Kong and Singapore HNWIs are turning to US equities for shelter even though the asset class is recording all-time highs, according to LGT Asia’s chief investment strategist. Stefan Hofer told Asian Private Banker at a media briefing yesterday that, historically, the US equity market has exhibited “very defensive” characteristics, with lower beta than its global counterparts. “They’re…

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