Indosuez Wealth Management sees a favourable window of opportunity for clients to add ASEAN exposure amid supply chain migration. The bank’s clients have ridden the strong momentum in the US equity market, which currently accounts for the majority of their equity portfolios, according to Francis Tan, chief strategist for Asia at Indosuez Wealth Management. In his view, while US stocks […]

The post Indosuez WM cuts US equity bets as ASEAN supply chain gains momentum appeared first on Asian Private Banker.

China’s wealth management industry is slowly pivoting from a long-standing obsession with individual products to the top-down advisory models standard in global hubs. HSBC’s 2022 launch of a dedicated China chief investment office (CIO) remains a rare outlier in a market only beginning to embrace the advisory-led approach. The onshore CIO office was designed to move beyond “back-end research” toward […]

The post HSBC built a China CIO in 2022 — now it’s driving the advisory shift appeared first on Asian Private Banker.

Capturing growth in 2026 requires wealth portfolios to decisively rotate away from US tech-heavy strategies toward Asian markets buoyed by domestic policy, fair valuations and a softening greenback, according to Eastspring Investments’ Vis Nayar. “The reality is that markets have done well, and Asian markets really powered ahead again in January. We’re seeing quite material outperformance from Asia from a […]

The post Eastspring CIO: Wealth portfolios shift to Asia as US tech dominance fades appeared first on Asian Private Banker.

Standard Chartered CIO is taking a granular look at the potential winners and losers of the AI cycle, identifying labour-intensive sectors as particularly vulnerable to AI displacement, while utilities stand to gain from tailwinds. The emerging markets-focused lender has also revised its CapEx expectations for global AI upwards, from 40% to 54% growth, but believes there is no tech bubble […]

The post StanChart CIO warns: Labour-heavy sectors at risk as AI CapEx boom accelerates appeared first on Asian Private Banker.

Artificial intelligence is no longer just a growth theme — it has become a core support for the US economy and equity markets. As consumption and manufacturing slow, AI investment has emerged as the standout growth driver, contributing more to US GDP expansion than consumer spending, according to Julius Baer’s group CIO, who warns this heavy reliance on a single […]

The post Who will win the US AI race—providers or users? Julius Baer CIO weighs in appeared first on Asian Private Banker.

Having explored space-sector investments for clients, DBS is now sharpening its focus on longevity opportunities, aiming to capitalise on the secular shift toward longer life and advanced healthcare. “We’re at a unique moment where scientific breakthroughs, significant capital flowing into the [longevity] sector, and undeniable demographic shifts are converging, with the sector increasingly becoming mainstream,” said Hou Wey Fook, chief investment […]

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Private clients have a rapidly narrowing window to rotate out of cash and lock in yields before the Federal Reserve’s “easing bias” erodes income opportunities, according to J.P. Morgan Asset Management’s international chief investment officer, global fixed income, Iain Stealey. “In fixed income at the moment, we see a lot of opportunity. There’s definitely been a shift in sentiment over […]

The post Window to lock in yields closing, says J.P. Morgan AM appeared first on Asian Private Banker.

The US stock market has delivered three consecutive years of exceptional gains, a feat not achieved since the dotcom era, leaving some to wonder, can the party last? According to UOB Private Bank (UOB PB), there is still some way to go, with the Singaporean private bank upgrading equities from neutral to overweight for the fourth quarter. A combination of […]

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DBS Bank is advising clients to maintain portfolio diversification while adding selective exposure to emerging market assets to ride on potential Fed Reserve policy easing and the ensuing dollar weakness. The S&P 500 hit four record highs this month amid optimism on the development of artificial intelligence and anticipated interest rate cuts. Hou Wey Fook, the Singaporean bank’s chief investment […]

The post DBS CIO eyes EM upside on Fed cuts amid 32% valuation gap; further melt-up probability high appeared first on Asian Private Banker.

Lombard Odier is adopting a cautious allocation approach amid recent rallies, striking a bullish tone on emerging markets due to a combination of strong growth prospects, attractive valuations, supportive monetary conditions, and positive capital flows. Stock markets in the US, Japan and Europe are trading at all-time highs as investors pile into equities. In China, a domestic buying spree has […]

The post “It’s an emerging market story”: Lombard Odier’s John Woods on cherry picking opportunities appeared first on Asian Private Banker.

For 2H25 and 3Q25, most private banks are neutral on global and US equities with a preference for Asia ex-Japan and China. Most are also neutral on fixed income, with investment grade being the most preferred fixed income asset class. Short-term bonds and cash are the least preferred. A positive sentiment is seen for alternatives, with the majority of banks […]

The post Asset allocation 2H25: Private bank CIOs bet on Asia, China, and alts appeared first on Asian Private Banker.

J.P. Morgan Asset Management (JPMAM) believes Asian wealth investors should expect more volatility and uncertainty ahead, making the case for building a globally diversified portfolio more critical than ever. “We are starting to see a framework of what type of agreement we can expect with Asian economies, and arguably, for lots of the US trade partners,” Tai Hui, the firm’s […]

The post “Expect more volatility”: J.P. Morgan says going global is no longer optional appeared first on Asian Private Banker.

J. Safra Sarasin says Asia-based clients are now reassessing the role of US dollar assets in their portfolios. As this trend unfolds, the pure-play private bank spots diversification opportunities, including gold and commodities. “I think the US dollar is a big concern in terms of portfolio positioning. That’s probably also the most important aspect that I’ve now been discussing with clients […]

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Fixed income is gaining the spotlight, with Salman Niaz of Goldman Sachs Asset Management (Goldman Sachs AM) calling it the best defence in today’s uncertain markets. He says clients are increasingly looking beyond the US for diversification, with Asian high yield and global investment grade bonds attracting growing interest. “Investors came into the year with a very strong growth backdrop […]

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The 90-day pause on the reciprocal tariffs has not yet defused market concerns about elevated uncertainty over the US trade policy, but HSBC Global Private Banking and Wealth’s Asia CIO is bullish on Asia markets to be the winner in the current market environment. “We expect market volatility to stay at an elevated level and advise clients to reduce concentrated […]

The post HSBC GPB Asia CIO favours Asia markets amid Trump’s tariff blitz appeared first on Asian Private Banker.

While stock markets around the world have continued to sell-off following US President Donald Trump’s sweeping tariffs against a multitude of trade partners, Bank of Singapore’s global CIO Jean Chia believes that there may be better days ahead. Asian stock markets extended losses on Wednesday after Trump imposed a staggering 104% tariff on Chinese imports, inching the world’s two largest […]

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With US stocks tumbling over fears President Donald Trump’s tariff policies could push the world’s biggest economy into a recession, BNP Paribas Wealth Management (BNP Paribas WM) believes it is time for investors to diversify into other markets. Major US equity indexes have endured a sell-off driven by trade uncertainties and recession fears. This month, the S&P 500 has declined […]

The post Worried about a US recession? BNP Paribas WM’s Bhayani says time to diversify appeared first on Asian Private Banker.

The US dollar has surged under the presidency of Donald Trump, but investors should not necessarily just continue to bet on the greenback. That is according to the CIO of VP Bank, who believes that the Swiss franc provides a compelling opportunity against a backdrop of trade wars and geopolitical uncertainty. In the long term, the Swiss franc has appreciated, […]

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Volatile Chinese markets have unsurprisingly been a tough sell for private banks in 2024, but a Temasek-backed private markets manager has come up with an intriguing solution. SeaTown, founded in Singapore in 2009, sees the “China plus 1” strategy adopted by many companies to diversify their supply chains into ASEAN, as an important thematic investment opportunity for private wealth clients […]

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The timing of China’s recent economic stimulus with Golden Week spending has lifted client sentiment and created an encouraging rally in the country’s equities. However, more stimulus and consumer spending is needed to make the optimism more than short-lived, says Deutsche Bank Private Bank’s (Deutsche Bank PB) APAC chief investment officer (CIO). Last week, the People’s Bank of China (PBoC) […]

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As China’s stock market continues to underperform in 2024, private bank J. Safra Sarasin believes investors should not get their hopes up for the rest of the year. Having started the year at a low point, and despite improving in the summer, China’s CSI 300 index began to sink again in the third quarter. Over the past year, the benchmark […]

The post CIO Insight: Why you shouldn’t buy the China dip – J. Safra Sarasin appeared first on Asian Private Banker.

US President Joe Biden shockingly announced he was withdrawing his US re-election bid and endorsed Vice President Kamala Harris as the Democratic nominee to face off against Republican contender Donald Trump in November. Regardless of who wins the election, Deutsche Bank Private Bank’s (Deutsche Bank PB) Americas CIO told Asian Private Banker that investors can expect more volatility from now […]

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Anticipating currency volatility, Lombard Odier believes market pullbacks in Japan could provide compelling opportunities for investors. Meanwhile, the Chinese yuan looks to further depreciate against the dollar as authorities play a difficult game of balancing stimulus and leverage. John Woods, the Swiss bank’s CIO and head of investment solutions for Asia, told Asian Private Banker in a recent interview that […]

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Despite the long-term structural challenges plaguing Asia’s largest economy, UBS Global Wealth Management’s chief investment office (UBS GWM CIO) believes the recent rally in Chinese equities still has some way to go. Adrian Zuercher, head of global asset allocation & co-head of global investment management APAC at the firm, believes there will be more “holding on” or long-term allocations to […]

The post China rally still has some way to go as long-term capital returns – UBS GWM appeared first on Asian Private Banker.

Christian Nolting, Deutsche Bank’s global CIO, believes all-time highs or lows should not be the sole driving force behind buying and selling, and instead highlighted two interesting areas poised for growth: China and ESG. Despite slower growth rates in the US, Europe, and to some extent, Asia, relative growth rates favour Asia, the global CIO told Asian Private Banker during […]

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Markets are not pricing in a Donald Trump return to the White House, despite polling to the contrary, which could support a rally in both equity and bond markets, whereas a Joe Biden win would continue the ‘status quo’, Julius Baer’s Asia CIO told Asian Private Banker. Bhaskar Laxminarayan recommended boosting cyclical exposure and focusing on technology stocks, while also […]

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As global geopolitical tension continues to escalate in the Middle East and with sticky inflation here to stay, UBS Global Wealth Management chief investment office (UBS GWM CIO) highlights the keys to investing in the second quarter and beyond. Oil as an insurance Oil was once again trading high at US$90 a barrel last week when Iran launched an attack […]

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The group of outperforming US tech stocks, The Magnificent Seven, were responsible for much of the gains of the S&P 500 in 2023. However, J.P. Morgan Asset Management (JPMAM) believes it is now time for investors to look to the other 493 stocks and pick winners and losers among the seven, as, after all, not all cowboys survive to the […]

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India’s stock market has surged over the last 12 months amid a wave of optimism over one of Asia’s biggest economies, but Goldman Sachs Asset Management (Goldman Sachs AM) thinks the best could be yet to come. The country’s benchmark SENSEX is up more than 20% over the last 12 months, with private banks ranging including UBS Global Wealth Management […]

The post US$4 trillion opportunity: Goldman Sachs sees no end to India boom appeared first on Asian Private Banker.

UBS Global Wealth Management Chief Investment Office (UBS GWM CIO) has said it believes that China will “come close” to reaching its potential 5% GDP growth target for 2024. In addition, the chief investment office continues to see opportunities in China, but recommends a defensive positioning in the short term, pivoting towards growth if policy developments move towards an upside […]

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Investors should be ready for a significant and lasting pendulum shift in Asian markets, as clients begin to look beyond China, UBP’s chief strategist has said. “Three to four years ago, the focus for global investors in the region was very China-centric. Over the last year, conversations have broadened to markets such as India, Japan, [and] Latin America. We believe […]

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While some investors now deem China uninvestable, Swiss pure-play LGT believes that to underweight this market would be too aggressive. Chinese equities – both H- and A-shares – are seeing their worst start to a new year in a decade. Despite a slight gain this week, the current market consensus is poor. Hong Kong’s Hang Seng Index has lost close […]

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Aurèle Storno, CIO, multi-asset, at Lombard Odier Investment Managers, believes 2024 will be the year to stick to the founding pillars of investing as we move into a new investment regime triggered by COVID. “We remain steadfast to the three founding pillars that guide every step of our investment journey: we focus on diversifying risk, we are aware of economic […]

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Hong Kong’s stock market is facing its worst performance in decades, with the Hang Seng Index losing almost 20% YTD. But Standard Chartered Wealth Management believes it is also time to find “some diamonds in the rough”. China’s CSI 300 has dropped over 13% YTD. While the UK lender currently holds a neutral position on China, Raymond Cheng, North Asia […]

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Fidelity International believes fixed income will be a bright spot in portfolios next year with the likelihood of a cyclical recession, and that investors can still find surprises in the China fixed income market. This year, China’s central bank took a different route compared to the rest of the world. With slower-than-expected growth, China is currently experiencing deflation and the […]

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HSBC Global Private Banking (GPB) is betting on the rise of the ASEAN and India economies amid slower China growth. “The Asia story over the last three or four decades has largely been a China story. But if we look forward to the next 10 to 20 years, it will not just be a pure China story,” James Cheo, CIO […]

The post CIO Insight: ASEAN and India are the real ‘AI’ story – James Cheo of HSBC GPB appeared first on Asian Private Banker.

To Stefanie Holtze-Jen, APAC CIO of Deutsche Bank Private Bank, the most important question this year is how much further the Fed will go in raising rates. “Inflation remains sticky, and the ongoing geopolitical tension is stirring volatility across various asset classes which will pose as an additional data point for the Fed to consider another hike,” said Holtze-Jen. The […]

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When Gary Dugan left London in 2009 in the wake of the global financial crisis, he did so with a strong belief in the potential of emerging markets. While some investors have turned sour on China or believe the largest opportunities exist in US disruptive tech and artificial intelligence, Dugan, who continues to serve the growing needs of wealthy families […]

The post “Money will come back”: Why calls for Asia ex-China are short-sighted appeared first on Asian Private Banker.

Seen by some as a bubble, UBS Global Wealth Management (GWM) is betting on the long-term potential of Artificial Intelligence (AI). Although valuations may be high, the bank believes AI is nevertheless a “super mega trend”, and the growth potential justifies the price. Despite volatile markets, interest in ChatGPT – and generative AI as a whole – picked up over […]

The post “Big will get bigger” – Why UBS GWM is betting on AI in the long term appeared first on Asian Private Banker.

Mainland China’s stock market has seen significant outflows over the past month, dragged down by the ongoing property defaults and muted post-Covid recovery. Even so, value strategies and traditional sectors still look interesting to John Lin, CIO for China equities at AllianceBernstein. “For A-shares sectors, we like consumption, such as sportswear, industrials and green energy,” Lin told Asian Private Banker, […]

The post CIO Insight – Amid China rout, look to ‘boring’ names and value strategies appeared first on Asian Private Banker.

Private banks should not fret too much about the latest defaults in the Chinese property market, with opportunities still existing in other parts of the Asian high yield credit market. This is according to Andy Suen, co-head of Asia ex-Japan, fixed income, at PineBridge Investments, who believes that Asian fixed income is benefitting from a favourable economic backdrop versus developed […]

The post CIO Insight – Opportunities in HY despite latest China defaults: PineBridge appeared first on Asian Private Banker.

High valuations among US tech stocks are reminiscent of the 1990s dot-com bubble, warned Peter Branner, CIO at abrdn, who told Asian Private Banker that investors need to take extra caution when evaluating individual companies. “Most asset classes had done really poorly during 2022. It was probably the worst investment year for a long time. For this year, what you […]

The post CIO Insight – Is the US facing another dot-com meltdown? abrdn urges caution appeared first on Asian Private Banker.

While the interest rate hiking cycle may be coming to an end, Liechtenstein-based VP Bank is advising clients to prepare for a looming US recession. The US Federal Reserve this week raised the benchmark rate by a quarter of a percentage point from 5.25% to 5.5%, possibly marking the end of its rate hike cycle. Fed Chair Jerome Powell hinted […]

The post CIO Insight – VP Bank: Build a recession-proof portfolio, you’ll need it appeared first on Asian Private Banker.

For Prashant Bhayani, Asia CIO for BNP Paribas Wealth Management, his three key concerns last year were geopolitical risk, inflation, and recession. With a recession still looming and a high interest rate environment, he shared his market opportunities and risks for 2H23. “We believe we move from a TINA (there is no alternative to equity) to a TARA market – […]

The post CIO Insight: BNP Paribas WM’s Prashant Bhayani on his ultimate investment guide for 2H23 appeared first on Asian Private Banker.

Many investors that had previously sought a piece of the China reopening pie have now turned tail after betting on a reopening boom that never arrived. However, for HSBC Global Private Banking (GPB), the next wave of China’s recovery could be just beyond the horizon. “The market expectation has changed quite a bit since the first quarter as investors see […]

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While many private banks are bearish on China, Deutsche Bank International Private Bank (IPB) believes now is the best time for clients to dip their toes back into the China market if they have not already done so. Chinese stocks in Hong Kong and China have been trending lower as the China reopening numbers continue to disappoint and US-China tensions […]

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While the equity market has been disappointing for many this year with China’s grand post-COVID reopening proving underwhelming, Japanese equities may be a bright spot in the market, according to Pictet. “Japan’s reopening story is like China, but without geopolitical overhang and with better macro numbers. So the Japan equity market is doing really well this year,” said Hugues Rialan, […]

The post CIO Insight – Disappointed by China’s re-opening? Try Japan’s instead appeared first on Asian Private Banker.

If geopolitical tensions, rising interest rates and a US debt crisis were not enough for investors to deal with already, they have one more thing to weigh on their nerves: confusing economic data. That is according to Daniel Murray, deputy CIO and head of research at EFG Bank. “As we transition from one stage of the economic cycle to the […]

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Fixed income, China equities and ‘Supertrends’, particularly infrastructure, are attractive opportunities right now, according to Credit Suisse APAC CIO John Woods. “We see fixed income as a structural investment. It’s not going to be a tactical or strategic investment. And fixed income will become a lot more structural,” Woods said. Woods explained that fixed income is structural because investors have […]

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Citi Global Wealth thinks China’s recovery is gaining speed, but opportunities in “policy-favoured” sectors, such as semiconductors and electric vehicles, are becoming a crowded trade. With more supportive policies being introduced, there is likely a shift in market attention to other industries, such as Internet. “We think China’s recovery is gaining legitimate speed, and we are likely to see that […]

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After a disastrous 2022 for fixed income as the Federal Reserve hiked interest rates, 2023 is shaping up to be a much better year with the asset class offering its highest yield in decades. Against that backdrop, Asian wealth clients are increasingly looking again at traditional fixed income mandates, according to Pilar Gomez-Bravo, co-CIO for fixed income, at MFS Investment […]

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HSBC Global Private Banking (GPB) believes that the recovery in China’s new home sales could power a rally in the country’s markets even higher. “We highlight China and EM Asia equities as our full overweight in our advisory portfolio [for the second quarter] because we think the acceleration in China’s consumption and housing recovery would provide further catalysts to support […]

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In the wake of Credit Suisse’s forced merger with UBS, the market has turned its attention to German lender Deutsche Bank. Although current events do not yet herald the arrival of the next financial crisis, Harmen Overdijk, CIO of Leo Wealth, believes the current confidence crisis cannot be neglected. Confidence crisis Overdijk explained how the lending model used by large […]

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The recent collapse of Silicon Valley Bank (SVB) has spooked markets, with investors fearful of a potential domino effect as US markets trend lower. Standard Chartered Bank believes that market sentiment has been materially impacted and is taking a cautious position on US equities. Following the SVB fallout, share prices of many global financial institutions tumbled, including Credit Suisse – […]

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 2023 will be driven by fundamentals and more attractive yields, after moving away from a year which saw a multiplicity of risks and lower yields for longer, according to Xavier Baraton, global CIO at HSBC Asset Management. In this video interview with Asian Private Banker, Baraton shared his thoughts on Asia credit, emerging markets equities, the China reopening, and […]

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China’s stock market began to rally in November last year, and Deutsche Bank International Private Bank (Deutsche Bank IPB) believes that for any investor that hasn’t yet participated and is waiting for the next sell-off to jump in, there likely won’t be a better time than now. The German lender was cautiously optimistic on China last year, but became more […]

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CIO Insight is a fortnightly column from Asian Private Banker that features the latest views and commentaries from the top investment strategists and portfolio managers at the region’s leading private banks and assets managers that serve them. If you are interested in taking part, please email daniel.s@asianprivatebanker.com  In this edition: China’s real business will be back: Fidelity; turn neutral on […]

The post CIO Insight – How should private bank clients play the China re-opening? appeared first on Asian Private Banker.