As markets worldwide continue absorbing the impact brought on by the ongoing war in Iran, wealthy Asian investors should expect uncertainty ahead in the long term and adjust exposures in favour of less correlated assets sooner than later, said Peter Branner. “Volatility will remain, and for investors, it’s less about staying calm and more about staying alert, understanding these scenarios, […]

The post Aberdeen CIO on Iran: EM equities, infra debt hedge as gold loses shine appeared first on Asian Private Banker.

If there is one asset class that is experiencing a renaissance because of its higher-than-expected yields lately – and one that wealthy individuals should consider in 2026 – it is emerging market (EM) debt. “If you look at the asset class in 2022, 2023, and 2024, there were significant outflows across the board. That trend clearly reversed in 2025,” Thomas […]

The post Weak dollar, stronger EM debt? UBP sees yield boost in 2026 appeared first on Asian Private Banker.

High net worth individuals (HNWIs) in Asia are rotating into emerging market (EM) debt and Japanese equities in the face of a persistent bubble in tech stocks and a weakening US dollar, Nuveen’s Laura Cooper told Asian Private Banker. EM debt has seen increased investor interest this year due to higher yields and attractive valuations, with recent gains and positive […]

The post Asian HNWIs rotating to EM debt and Japan amid dollar weakness appeared first on Asian Private Banker.

Increasing allocations towards emerging market equities could provide another layer of diversification needed to weather current and future financial and macroeconomic challenges resulting from United States-led uncertainty. With the “Magnificent 7” US tech stocks now representing roughly 37% of the S&P 500, an increasing number of investors are sounding the alarm, cautioning that share prices – while having achieved upside […]

The post APB Summit 2025: UBS, Julius Baer fund selectors spotlight emerging market trends appeared first on Asian Private Banker.

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.

From China’s property crisis to stubbornly high US interest rates, emerging markets debt has been a tough sell to Asian private banks and their clients in recent years. They also now face the return of ‘tariff man’ Donald Trump as US president. However, there remain reasons to be optimistic. The likelihood that US interest rates should continue to fall should […]

The post Can unloved emerging markets weather Trump storm and stage comeback? appeared first on Asian Private Banker.

This is a sponsored article from Eastspring Investments.  Eastspring Investments’ CIO Vis Nayar shares how investors should position their portfolios in the year ahead. While positive global growth is anticipated during the first half of 2025, rising uncertainty is expected in the latter half due to the introduction of new policies in the US or potential stimulus measures from […]

The post 2025 Market Outlook – Asia and Emerging Markets: Opportunities amid shifting tides appeared first on Asian Private Banker.

When Johanes Oeni joined Deutsche Bank Private Bank (Deutsche Bank PB) last year after close to 22 years with Credit Suisse, many suspected he knew something was going to happen at the Swiss lender. “But I didn’t plan it that way. The pull factor of why I joined the bank is its culture and how resilient the bank is,” Oeni, […]

The post Southeast Asia hires now bearing fruit: Johanes Oeni shares first year at Deutsche Bank PB appeared first on Asian Private Banker.

abrdn, the UK asset manager with almost GBP 500 billion in AUM, has launched an emerging markets (EM) income strategy for investors in Hong Kong and Singapore. The EM strategy is available to accredited and institutional investors in Singapore, and professional investors in Hong Kong. It will mirror the strategy of a UK-domiciled vehicle that was launched in 2012 and […]

The post abrdn launches EM income strategy for Hong Kong, Singapore investors appeared first on Asian Private Banker.

Wealth management is in a very interesting place right now, with the competition among financial centres for the assets and residency of wealthy families, says Deutsche Bank Private Bank’s Marco Pagliara. This rivalry, which extends beyond private banking competition, is giving rise to interesting trends in the family office space, the head of emerging markets noted. In today’s multipolar geopolitical […]

The post Geopolitics meets family offices: Deutsche Bank PB’s Marco Pagliara decodes trends appeared first on Asian Private Banker.

EFG Asset Management’s global CIO believes the time is ripe to invest in emerging markets (EM), with the business becoming more positive on Asian equities, notably China, followed by India and Taiwan. The fund manager recently adjusted its stance on Asian equities, shifting from underweight to neutral, amid bearish sentiments triggered by growth and deflationary trends in China. Although EFG […]

The post Can this “forgotten asset class” fuel investor fortunes? EFG AM’s Mozamil Afzal reveals appeared first on Asian Private Banker.

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 […]

The post CIO Insight: Pendulum has shifted away from China for the long term: UBP appeared first on Asian Private Banker.

Kunjal Gala, head of Global Emerging Markets, Federated Hermes Limited, outlines the prospects for emerging markets in 2023 and beyond. Although emerging markets underperformed developed markets in 2022, if you strip out China, emerging markets actually performed in line with the developed world1. While China grapples with its own unique challenges, emerging markets generally have proven resilient despite the spectre […]

The post Global Emerging Markets: Outlook 2023 appeared first on Asian Private Banker.

This week: Goldman Sachs Asset Management: Bottom-up stock picking works better over time for emerging markets; Amundi: Stay neutral on risk assets and hold on to hedges; UBS Global Wealth Management advises against bottom-fishing in China equity; Bank of Singapore: US fiscal development to be key market drivers Goldman Sachs Asset Management: Bottom-up stock picking works better over time for […]

The post CIO Weekly – Bottom-up stock picking works better over time for EM: Hiren Dasani of Goldman Sachs AM appeared first on Asian Private Banker.

There is a clear cut line between impact investing and ESG investing, though both belong to the broader “sustainable investing” universe. For one thing, companies’ ESG rating is often not the sole determinant of impact investing strategies — the latter prioritises the “what” over the “how”. Such belief is part and parcel of the impact investing strategy of UBP, said […]

The post ESG rating does not dictate impact investing decisions: UBP appeared first on Asian Private Banker.

Stocks remain the best investment in the long-run, a study of financial assets over the last 121 years by Credit Suisse and London Business School has shown, bolstering advice by CIOs of private banks to buy equities on any dips. Global equities have returned 5.3% on average annually versus 2.1% for bonds and 0.8% for bills since 1900, according to […]

The post Keep calm and buy stocks, says 121-year study appeared first on Asian Private Banker.

With volatility soaring in fixed income markets owing to the unprecedented shocks caused by the COVID-19 pandemic, emerging market credit spreads have essentially doubled, with returns being on pace to match those of October 2008. “While emerging market corporate bond spreads have widened considerably, we do not expect spreads to hit the extreme wide levels of late 2008,” shared Todd […]

The post EM credit spreads unlikely to hit extreme levels of 2008: BoS appeared first on Asian Private Banker.

Deutsche Bank Wealth Management has reduced Europe equities and emerging market (EM) bonds in its latest tactical asset allocation strategy, due to slower economic growth in the two markets. Although the wage level in the Eurozone continues to grow and low inflation remains supportive of consumer spending, Deutsche Bank Wealth Management believes Eurozone economic growth should continue to slow because […]

The post Deutsche Bank WM reduces allocation to Europe equities and EM bonds appeared first on Asian Private Banker.

Despite some ongoing trepidation, banks in Asia are increasingly warming to SaaS and BPaaS offerings, particularly when entering new markets given the time-to-market and cost benefits, according to Pascal Föhn, Avaloq group COO, who spoke to Asian Private Banker on the sidelines of the Avaloq Community Conference held in Singapore today. “We have interest from both new customers who still operate […]

The post Banks in Asia look to outsourcing to facilitate EM expansion: Avaloq appeared first on Asian Private Banker.

Pictet Wealth Management has turned positive on emerging market equities and has taken a negative view on developed market stocks in its 2H19 asset allocation strategy. “The context now is quite favourable for emerging markets due to low global interest rates, lower commodity prices, and high real interest rates in Asia,” Pictet WM’s Asia CIO, David Gaud, said in a […]

The post Pictet WM’s David Gaud: Overweight EM, underweight DM for 2H appeared first on Asian Private Banker.

As private banks in the region continue venturing further into emerging markets, they should seek to employ more “hybrid” talent, according to Singapore-based recruiter Kerry Consulting. “There is indeed a very strong push for expansion into emerging markets; however, the acquisition of private banking talent covering these locations is more challenging,” Pierre Pineau, associate director, private banking at Kerry Consulting, told […]

The post Asia PBs should seek “hybrid” EM talent appeared first on Asian Private Banker.

As liquidity stabilises across the globe, Pictet Wealth Management has identified attractive opportunities in emerging markets but is urging investors to prioritise quality. According to David Gaud, Asia CIO at Pictet Wealth Management, last year’s indiscriminate market sell-off was an overreaction to macro geopolitical developments but an underreaction to the microenvironment. “When you have such a bad year, usually in the […]

The post Pictet WM’s Gaud sees opportunities in EM as global liquidity stabilises appeared first on Asian Private Banker.

This is a sponsored article from State Street Global Advisors. Investors woke to a new year to find the bad dreams that haunted global markets in 2018 were still present — most notably uncertainties around trade disputes, the unsettling Brexit effect, and the prospect of softening US growth. Following four rate hikes in 2018, the US Federal Reserve (Fed) recently […]

The post Asian Bond Watch: Slowing growth and less hawkish US Fed shape investors’ dreams for 2019 appeared first on Asian Private Banker.

Given global monetary tightening, including the recent series of Fed rate hikes, J. Safra Sarasin expects the world economy to slow in the first half of the year but is more optimistic about the latter six months. Accordingly, the private bank has earmarked five key asset classes for 2019. “Inflation is unlikely to surge dramatically, but it will be high […]

The post J. Safra Sarasin reveals its top 5 investment ideas for 2019 appeared first on Asian Private Banker.

This is a sponsored article from State Street Global Advisors. Tighter monetary policy conditions in the US, trade conflicts, and political upheaval made 2018 a turbulent year for Asian and emerging markets with stocks, currencies, and bonds all coming under pressure. In November, however, sentiment improved with Asian assets posting a late-year recovery, raising the question of whether this trend […]

The post Asian Bond Watch: Winds of change blow through Asian markets as a less turbulent New Year dawns appeared first on Asian Private Banker.

Vontobel Asset Management has captured 10% of the market share of emerging market hard currency bond inflows year-to-date, with a considerable portion coming from Asian HNW clients who have been tending towards short duration investment grade strategies. “Compared with 2017, the appetite has slowed down. The recent flow of news coming from Argentina and Turkey, and on top of trade wars, […]

The post Vontobel AM captures 10% of EM bond inflows YTD, HNW clients tilt to short duration appeared first on Asian Private Banker.

This is a sponsored article from State Street Global Advisors. As the year end approaches, 2018 will be remembered as a challenging time for emerging market (EM) bonds. In particular, in recent months, global EM bonds have taken their turn in experiencing unsettling bouts of volatility, all driven by a number of macro developments. These include US rate hikes and […]

The post Asian Bond Watch: How have the markets performed in 2018? appeared first on Asian Private Banker.

Standard Chartered Wealth Management has reduced its Asian equity exposure to a core holding amid concerns over fund outflows. “While the earnings outlook remains robust, we note that a further sustained rally in the USD or further escalation of US-China trade tensions would pose rising risks to Asian equity performance,” the bank said in its latest Global Market Outlook Report, […]

The post StanChart WM trims Asian equity exposure amid fund outflow concern appeared first on Asian Private Banker.

J. Safra Sarasin has increased equity exposure in its balanced portfolio by 2.5 percentage points, according to its current tactical asset allocation strategy and despite surging volatility in the asset class. Philipp Bärtschi, CIO at the Swiss pure play told Asian Private Banker at a briefing today that the increase was implemented through two major moves. The bank added European […]

The post J. Safra Sarasin adds equity exposure to TAA despite rising volatility appeared first on Asian Private Banker.

This is a sponsored article from M&G Investments. Claudia Calich, manager of the M&G Emerging Markets Bond Fund, discusses the outlook for emerging bond markets The current economic cycles underway in individual emerging market (EM) countries form a hugely varied landscape, providing a diversified investment universe. Against this backdrop, a very flexible mandate is crucial to take advantage of the […]

The post Emerging market cycles and positioning for rates, credit, and FX appeared first on Asian Private Banker.

This is a sponsored article from Goldman Sachs Asset Management. Introduction Goldman Sachs Asset Management (GSAM) has been managing dedicated emerging market (EM) mandates for over twenty years, during which time we have seen a significant deepening of capital markets and a growing number of regions opening up to foreign investors. The investable EM universe has grown to over US$10 […]

The post Goldman Sachs Asset Management: Investing in EM growth — A multi-asset approach appeared first on Asian Private Banker.

Goldman Sachs Asset Management (GSAM) continues to experience strong private client demand for emerging market (EM) multi-asset strategies as investors seek to diversify their portfolios. Shoqat Bunglawala, who heads up the asset manager’s global portfolio solutions group in Asia Pacific and EMEA, explained that investors are keen to access the EM growth story without taking on the full risk of […]

The post GSAM sees “strong demand” from PBs for EM multi-asset strategies appeared first on Asian Private Banker.

This is a sponsored article from Goldman Sachs Asset Management.   Introduction The performance of Emerging Markets (EM) and Developed Markets (DM) has been characterised by sustained periods of out and underperformance over the last 30 years, coinciding with shifts in the relative pace of EM vs DM economic growth. In line with this, we believe that the EM vs […]

The post Not just a bounce: The cyclical case for emerging markets appeared first on Asian Private Banker.

As inflation and rate worries take centre stage, J. Safra Sarasin has offered a contrary view on equity markets, forecasting persistent downside risk and advising investors to expect broad trading ranges and to sell on rallies. “We assume that we have entered a prolonged period of higher uncertainty for equity investments, as doubts regarding inflation and rate expectations are taking […]

The post J. Safra Sarasin: Expect persistent Q2 downside risk and sell the rallies appeared first on Asian Private Banker.

The Russian rouble and the Brazilian real are currently the most appealing emerging market (EM) currencies, partly due to improving economic growth and improved resilience to external shocks in the two countries, Pictet Wealth Management said. The wealth manager used “a rule-based methodology” and ranked 10 EM currencies in terms of their attractiveness based on key criteria such as growth, […]

The post Pictet WM: Real and rouble most appealing EM currencies appeared first on Asian Private Banker.

UBP believes it is “reasonable” to expect US 10-year Treasury yields to surge to 3.0-3.5% over the coming months in line with an increase in core inflation expectations. US bond yields started to rise in the second half of 2017 in reaction to the Fed’s monetary policy normalisation. The US 10-year Treasury yields increased from 2.0% in September 2017 to […]

The post UBP: 3-3.5% US 10yr Treasury yields a reasonable expectation appeared first on Asian Private Banker.

J. Safra Sarasin is urging investors to tilt back into value stocks, as the bank believes that growth stocks, driven by technology sector have entered their later stages. Growth stocks outperformed value equities last year at a significant level, especially in the US and emerging markets (EMs) where the technology sector has pushed the market to a series of record highs. […]

The post J. Safra Sarasin: Tilt back to value stocks appeared first on Asian Private Banker.

Bank of Singapore is advising its clients to seek investments that “correlate badly” with traditional portfolios of stocks and bonds, as it sees 2018 will be a more challenging year for investors as markets undergo an environment of tighter monetary policies globally. The private bank is urging investors to diversify income sources and increase exposure to alternative assets. “Increasing exposure […]

The post BoS’ Jooste: Seek assets that “correlate badly” appeared first on Asian Private Banker.

The global equity markets will likely cool off and face consolidation in the short term as the outstanding put-to-call option ratio has begun to look ‘stretched’, according to J. Safra Sarasin. But under the support of positive factors – such as a potential tax cut in the US and a favourable Brexit agreement between the UK and the European Union – the […]

The post J. Safra Sarasin: Equity markets to cool off in short term appeared first on Asian Private Banker.

Half of Goldman Sachs Asset Management’s (GSAM) net cross-border mutual fund inflows year-to-date have gone into actively managed equity strategies, of which a “significant proportion” have come from Asian private clients. As of the end of August, the asset manager has seen US$8.1 billion in net sales of actively management mutual funds, with actively managed equity products accounting for US$4.0 […]

The post Asian private clients represent “significant” proportion of inflows into GSAM active equity strategies appeared first on Asian Private Banker.

This is a sponsored article from AXA Investment Managers. The age of record-low interest rates is reaching its end. As investors prepare for a series of rate hikes by the US Federal Reserve in the coming months, the need to plan ahead and build flexibility and diversification into portfolios has rarely been as pressing. Incoming hikes, combined with unprecedented global […]

The post AXA IM: Looming rate hikes bring Asian short duration bonds into focus appeared first on Asian Private Banker.

This is a sponsored advertorial from M&G Investments. Claudia Calich, manager of the M&G Emerging Markets Bond Fund, discusses the outlook for emerging bond markets Emerging market (EM) bonds have recorded decent performance so far in 2017, rallying well after reacting adversely to the US election result at the end of last year. This outcome has been helped by factors such […]

The post M&G outlook on emerging markets bonds appeared first on Asian Private Banker.

Despite a likely stronger USD, J. Safra Sarasin remains constructive on emerging market (EM) hard currency (HC) credits on the grounds that the asset class’s macro-economic fundamentals have improved significantly over the past few years. The Federal Reserve (Fed) appears on track to normalise interest rates and plans to shrink its balance sheet, raising concerns that a stronger USD might […]

The post J. Safra Sarasin “constructive” on EM HC credits despite stronger USD appeared first on Asian Private Banker.

This is a sponsored article from AXA Investment Managers. In the low yield environment, finding healthy sources of income remains a challenge. Emerging market (EM) bonds offer significantly better yields than their developed market peers, and may provide attractive risk-adjusted returns, particularly short duration EM bonds, according to AXA Investment Managers (AXA IM), one of the leading asset managers with […]

The post AXA IM: A compelling case for short duration EM bonds appeared first on Asian Private Banker.

This is a sponsored article from AXA Investment Managers.   Short duration bonds in Asia are likely to yield attractive risk-adjusted returns going forward, largely due to improving fundamentals and favourable monetary policies across the region, according to AXA Investment Managers (AXA IM), one of the leading asset managers with strong expertise in short duration bonds. “On an index basis, […]

The post AXA IM: Asian short duration bonds look increasingly attractive appeared first on Asian Private Banker.

This is a sponsored article from AXA Investment Managers.   Following Bank of England (BoE) governor Mark Carney’s declaration that the possibility of a rate hike has “definitely increased”, it appears as though interest rates across the globe are finally poised to rise, with major central banks – notably the Federal Reserve(Fed), European Central Bank (ECB) and BoE – preparing […]

The post AXA IM: With rates and volatility rising, Asian and EM short duration bonds look attractive appeared first on Asian Private Banker.

J. Safra Sarasin believes that emerging market (EM) equities will continue to edge higher, following a “stellar performance” in the year to date. “The good news is that this stellar performance mainly reflects a turbocharged acceleration in earnings growth which shows no signs of petering out,” the bank said in its latest investment note. The MSCI EM index delivered total […]

The post J. Safra Sarasin: EM equities to continue “stellar” run appeared first on Asian Private Banker.

Bank of Singapore believes that the ‘fragile five’ emerging markets – namely India, Indonesia, Brazil, South Africa and Turkey – have become more robust and resilient, which means they are now well positioned to cope with tighter US Federal Reserve policies. The bank said in its latest investment note that in 2013, poor economic management and wide external deficits “put […]

The post Bank of Singapore: Fed policy changes will have limited impact on ‘fragile five’ EMs appeared first on Asian Private Banker.

J. Safra Sarasin believes that the low inflation environment, coupled with high business activity, bode well for emerging market (EM) bonds – an asset class in which the bank sees numerous opportunities. “Despite expectations for an inflation rebound, consumer prices failed to rise to the Fed target,” Karsten Junius, chief economist at J. Safra Sarasin, said at a media briefing, […]

The post J. Safra Sarasin: Low inflation and high business activity a boon for EM bonds appeared first on Asian Private Banker.

J. Safra Sarasin believes that emerging market (EM) local currency (LC) bonds are attractive at current valuations since downside risks are “well contained”. “Emerging markets are currently going through a good moment in terms of improving economic activity,” the bank said in its latest investment note, adding however that not all EM asset classes are benefiting to the same extent. […]

The post J. Safra Sarasin: EM local currency bonds look attractive appeared first on Asian Private Banker.

LGT says that although the yield curve in Mexico is likely to remain inverted – which is usually a sign of economic stress – the country’s economic prospects appear healthy. “As the central bank is expected to have ended the rate hiking cycle and inflation is close to the peak, growth in the second largest Latin American economy is expected […]

The post LGT: Mexican economy to remain strong despite inverted yield curve appeared first on Asian Private Banker.

Wealthy Asian investors are shifting their attention from developed market to emerging market assets, according to AXA Investment Managers. “Different from some retail clients that are home-biased, private banking clients are more capable and sophisticated – they are really looking at places [that] can offer good returns,” Terence Lam, head of sales and marketing for Asia at AXA Investment Managers, […]

The post Wealthy Asian investors shifting attention to emerging markets: AXA IM appeared first on Asian Private Banker.

DBS says that a withdrawal of quantitative easing is not on the cards in the foreseeable future, particularly on the part of the ECB and BoJ. This comes as global equities grind higher thanks to accommodative monetary policies and upbeat corporate earnings “Both the Bank of Japan (BoJ) and the European Central Bank (ECB) maintained their overall accommodative stance, as […]

The post DBS: Withdrawal of QE “not on the cards” any time soon appeared first on Asian Private Banker.

Citi Private Bank’s global chief investment strategist tells APB Mandate that the American bank is looking to increase allocations to international equities, which offer better returns than the lender’s home market. “Economic activity is accelerating outside the US, such as Japan, China and Europe,” says Steven Wieting, global chief investment strategist at Citi Private Bank. Economic data in Europe and […]

The post Citi PB to add global equity exposure appeared first on Asian Private Banker.

Citi Private Bank believes that global economic growth is “accelerating moderately”, with the bank forecasting world real GDP growth of 3% in both 2017 and 2018. “US growth is steady, but unexceptional,” Steven Wieting, managing director and global chief investment strategist at Citi Private Bank, said at a media briefing today. “US tax cuts are still quite possible, but their […]

The post Citi PB: Global economic growth is “accelerating moderately” appeared first on Asian Private Banker.

Following a strong run, emerging market (EM) equities are unlikely to continue outperforming their developed market (DM) counterparts, according to Pictet Wealth Management. “EM equities are benefitting from the upturn in global growth, with the recent decline in the trade-weighted dollar and a lessening of concerns about Trump protectionism also providing a tailwind,” the bank says in its latest investment […]

The post Pictet WM: Outperformance of emerging market equities “likely to be capped” appeared first on Asian Private Banker.

Investment manager Ashmore raised more than US$400 million for its emerging market (EM) fixed maturity bond (FMB) strategy from HNWIs in Asia earlier this year, in what is the latest example of Asian private banking clients’ seemingly insatiable demand for FMB funds. The strategy, named Ashmore SICAV 2 Emerging Markets Debt Fixed Maturity Fund, closed for new subscriptions at the end […]

The post Ashmore raises US$400 million for fixed maturity EM bond strategy from PBs appeared first on Asian Private Banker.

UBP shares its views on Japanese equities, India’s GDP growth, and emerging markets (EMs) as a whole. Positive on Japanese equities Despite a recent downgrade of the country’s headline GDP growth, UBP remains positive on Japanese equities, according to the bank’s latest investment note. “At the strategy level, we continue to view Japanese equities as a leveraged play on global […]

The post UBP on Japanese equities, India and EMs in general appeared first on Asian Private Banker.

Amid the low interest rate environment, yield-hungry investors in Asia are warming to hard-currency emerging market bonds, says Ulrich Behm, Vontobel Asset Management’s Asia Pacific CEO. “Emerging market bonds have clearly made their way into the portfolios of private banking clients in Asia,” Behm tells APB Mandate, adding that investors in the region do not want to “miss attractive entry […]

The post Asian investors show greater appetite for hard-currency EM debt, says Vontobel AM’s Asia head appeared first on Asian Private Banker.

Growth momentum in the US should outweigh concerns about political risk, and a meaningful slowdown in the US and G7 nations in the foreseeable future is unlikely, according to UBP. “A faster pace of Fed tightening should be seen as confirmation that growth is solid and earnings should continue to reward risk-taking,” the bank says in its latest investment note. […]

The post UBP: “Earnings should continue to reward risk-taking” appeared first on Asian Private Banker.

DBS believes that the outlook for emerging market (EM) equities is more upbeat than the outlook for developed market (DM) stocks, which have started edging lower. “[DM] markets will be challenged for an encore performance, after having priced in a stronger global economy and aggressive corporate earnings growth,” the bank says in its latest investment note. It adds that high […]

The post DBS: EM equities likely to outperform fairly-priced DM counterparts appeared first on Asian Private Banker.

While the search for yield amongst emerging market (EM) currencies is likely to continue – with US growth having peaked and uncertainties about the French election having eased – high-yielding EM currencies are no longer cheap, according to Bank of Singapore. “Valuations no longer appear attractive, with the ‘good’ EM currencies back to fair/overvalued territory,” the bank says, noting that […]

The post BoS: High-yielding EM currencies “no longer cheap” appeared first on Asian Private Banker.

The USD has gotten ahead of itself and even positive news will not push the currency higher, says UBS Wealth Management. USD has fallen from earlier in month, with the DXY index drifting from 102.2 on 2 March to 99.166 on 27 March, following strong US employment data and a “dovish” rate hike, though the index has seen some rebound during the past […]

The post UBS WM: Positive news could not lift USD further appeared first on Asian Private Banker.

Consumer confidence across a core group of emerging markets has recovered in 2017, with Asia leading the pack and showing the highest level of optimism, according to the seventh annual Credit Suisse emerging consumer survey. “The developing emerging middle class is a component of the Megatrend driving a projected shift in consumption,” says the bank. “It is happening more quickly […]

The post Credit Suisse: Asia has highest consumer confidence in EM appeared first on Asian Private Banker.

Although emerging market (EM) bonds, particularly those denominated in USD, are seen as vulnerable to the Fed’s rate hikes, Asian investors are more relaxed about the Fed’s influence on these assets than they were four years ago – when the so-called “taper tantrum” occurred. “We don’t observe any outflow or negative reaction from clients,” says Prashant Bhayani, CIO, wealth management […]

The post EM bond investors “more relaxed” about Fed rate hikes appeared first on Asian Private Banker.

DBS has downgraded its US equities from overweight to neutral, even with U.S. stock market riding strong since Trump’s election victory. “The Trump administration will boost fiscal spending substantially, but the recent result is ambiguous,” said Frank Lee, acting chief investment officer (North Asia), chief investment office (North Asia), wealth management, DBS Bank. “A sudden hawkish tilt in the stance […]

The post DBS: Cooling on US equities appeared first on Asian Private Banker.

This is a sponsored article from Pioneer Investments.   “Inefficiencies at the sovereign and corporate level have resulted in investors demanding a higher risk premium from Emerging Markets.” Unearthing the Potential of Emerging Markets The potential of Emerging Markets (EM) has been somewhat reduced to a more volatile and less appealing field of choice for investors, mainly due to implementation […]

The post Emerging Markets: Key to unlocking global growth appeared first on Asian Private Banker.

Amundi is warning investors against overestimating the positive effects Trump’s economic stimulus plan and underestimating the long-term impact of the UK’s exit from the Eurozone. “There will certainly be changes in economic policy, but this will not be enough to change potential growth or create a new cycle of growth [in the US],” the firm says in its latest investment strategy […]

The post Amundi: Market overestimates Trump stimulus positives but underestimates Brexit negatives appeared first on Asian Private Banker.

BlackRock expects the gap between equity winners and losers to widen due to a passing of global regulations baton, from monetary to fiscal policy. “Under extraordinary monetary easing during the post-crisis years, a rising tide lifted all boats,” the firm says in its Global Investment Outlook 2017 Report. “Fiscal and regulatory changes, by contrast, are likely to favour some sectors at the […]

The post BlackRock: Gap between winners and losers in equity market to widen appeared first on Asian Private Banker.

Amundi Asset Management is advising investors to concentrate on equities with commodity and energy exposure in 2017, due to a worldwide acceleration in fiscal stimulus and expectations that oil prices will increase in a reflation environment. “The energy and materials sectors are expected to see a rebounding in earnings next year,” said Anthony Ho, chief investment officer, Asia ex-Japan equities, Amundi Hong Kong, […]

The post Amundi: energy and materials sectors will rebound in 2017 appeared first on Asian Private Banker.

Bank of Singapore shares its top investment themes to kickstart a 2017 where, according to chief investment officer Johan Jooste, “many, many outcomes are now feasible compared to only a short time ago”. Rates on the rise The Fed is expected to hike rates soon, but the sudden prospect of fiscal stimulus – which Jooste calls “more spice to the […]

The post Bank of Singapore: Keep some dry powder for 2017 appeared first on Asian Private Banker.

In the coming weeks, the market will see “corrections in US and Japanese stocks, coinciding with pullbacks in the US Treasury 10-year yield, the US Dollar Index (DXY), and the USD/JPY” says DBS, which believes that the market has overreacted to the “Trump Trade”. The bank said last week that the “ Trump Trade”, underpinned by bullish developed market equities and a strong […]

The post DBS: correction imminent for “Trump Trade” market appeared first on Asian Private Banker.

Despite a growing trend towards the conversion of bond allocations into fixed maturity solutions, emerging Asia bond issuances continue to hold strong at US$58.8 billion for the second quarter, with investors overreaching for yield and taking on too much risk in the process, according to Credit Suisse Asset Management (CSAM). Asia’s bond misconception Asian HNW appetite for yield is well-documented – […]

The post CSAM continues to preach conversion of single bond holdings appeared first on Asian Private Banker.

The recent uptick in Treasury yields may have been incorrectly attributed to hawkish Fed official comments, according to Julius Baer, which believes that it was more likely due to a correction after investors undershot following exaggerated post-Brexit fears. Fundamentals justify 1.7-1.9% 10-year Treasury yield Whilst many may point to recent hawkish comments by Boston Fed President Rosengren as the reason for […]

The post Julius Baer: Treasury yield uptick triggered by correction, not an increase in rate hike expectations appeared first on Asian Private Banker.

HSBC Private Bank, in its latest market outlook, believes that it is time to buy low for emerging market equities, given the Fed’s “cautious” attitude towards further rate hikes and a general stabilization in the markets. Noting that a global risk appetite is likely to remain due to the Federal Reserve’s “gradual approach” towards further rate hikes, as well as a […]

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Distributors and clients should not look at the current valuation of emerging markets, but instead focus on the fundamentals of individual markets using value-driven equities strategies in the region, says global asset manager M&G Investments. In light of the looming Federal Reserve rate hike this year, many distributors and clients are wary of its impending impact on the performance of emerging markets. In particular, […]

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Lombard Odier’s CIO APAC, Jean-Louis Nakamura, has come out in favour of emerging market (EM) credits and assets, citing the dovish shift in US monetary guidance, and continued easing from developed central banks. “The Fed has quite explicitly made the choice of an asymmetric priority between growth and inflation public and will clearly take the risk of being behind the […]

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Amid a low-to-negative rate environment with little sign of any material reversal in the near-term, the hunt for yield is becoming increasingly onerous. Consequently, Lombard Odier is advising investors to rethink their emerging market (EM) fixed income allocations, as the catch-all classification loses its functional relevance. “We believe that the need for yield coupled with signs of attractive valuations demands […]

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The seemingly unstoppable slowdown of China’s economy has triggered a chain reaction in the emerging markets, the chief strategist of Group Crédit Mutuel-CIC told wealthy clients yesterday. François Duhen advised “extra caution” when investing in emerging markets, noting that developed markets are preferred as they are “able to withstand external pressure.” In a CIC Banque Privée finance seminar titled “China: Domino Effect?” […]

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As asset managers continue growing in a market that is no longer conducive for excessive active trading, global fund research house Morningstar is observing an uptick in the diversity of the emerging market (EM) funds group. According the firm, there has been an emergence of new EM strategies that fall into the four distinct subgroups: geographically flexible funds (invested in […]

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While emerging Asian currencies have begun depreciating against the greenback, following last December’s US Federal Reserve (Fed) rate, Falcon Private Bank’s chief investment officer (CIO) believes that careful scrutiny of local currency and sectoral growth trends may yet throw up short term opportunities, even if the general outlook appears grim. The region’s equities markets need to be assessed individually, David Pinkerton tells Asian Private […]

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While emerging Asian currencies have begun depreciating against the greenback, following last December’s US Federal Reserve (Fed) rate, Falcon Private Bank’s chief investment officer (CIO) believes that careful scrutiny of local currency and sectoral growth trends may yet throw up short term opportunities, even if the general outlook appears grim. The region’s equities markets need to be assessed individually, David Pinkerton tells Asian Private […]

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Following the rate hike and a less than ideal second half of the year, emerging markets (EM) assets are actually now more attractive for HNWIs, the head of a top multi family office tells Asian Private Banker. Peter Lee, managing director at Veco Invest Asia & Veco Multi Family Office took the rate hike as a sign of recovery for […]

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While UBS remains underweight on emerging market (EM) equities in tactical assets – with an eye on a potential US Federal Reserve rate that may be announced Thursday US time – it sees no imminent danger apart from long-term malaise. Despite EMs like China and Brazil reporting slower growth, the Swiss lender’s global CIO Mark Haefele believes that the spike of bond yields […]

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US equities is under-invested by clients in the Asia Pacific though it is set to rise in value, says the German lender. Currently there is plenty of room for such shares to grow within the asset allocation of Deutsche’s Asian Pacific clients, Henning Gebhardt, global head of equities at Deutche AWM, notes in a report. Developed market equities comprise 34.5% of […]

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Indonesia’s phoenix-like emergence from the Asian financial crisis was capped off this year by its return to investment-grade status – a sure sign that the archipelagic nation is set to take its place alongside the world’s most promising markets, bringing with it a substantial (US$106 billion in onshore wealth) opportunity for the private banking industry. Indeed, with an average 6% […]

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With many clients flagging off inflationary concerns to their bankers, private banks are looking for investment solutions that could prevent value erosion. Liechtenstein-based private bank LGT is recommending inflation-linked bonds to clients to mitigate these fears. “With many clients still sitting on cash, buying inflation-linked bonds is a good alternative investment,” says Stephen Corry, managing director and chief investment strategist […]

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Bank of China Hong Kong (BOCHK), together with The World Bank has launched the “BOCHK – World Bank Emerging Markets Bond Fund. The fund is the inaugural cooperative venture of this type between BOCHK and the World Bank and will be the first global emerging market currency bond fund in Hong Kong with a China theme. At least 85% of […]

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According to its recent report, Bank Sarasin favours emerging market opportunities, specifically sovereign bonds and equities. Despite prevailing economic concerns, Sarasin believes the falling interest rates in emerging market nations will allow monetary stimulus to counter weakness, especially in China, making emerging market sovereign bonds a more attractive option than those of developed economies. The Swiss bank also favours emerging […]

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Arjuna Mahendran, head of investment strategy in Asia HSBC Private Bank sees the strength of emerging markets, both among BRIC nations and second-tier countries just below. The strong fundamental changes in their economic structures merits reconsiderations with regards to our conventional understanding of the interconnectivity of globalized markets and the inability to generate superior growth amidst the West’s debt crisis. […]

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