The recent events in the Middle East may constitute the largest escalation in conflict in decades. But despite this, private banks, accustomed to volatile markets, are remaining calm, believing that disruption is likely to be only temporary, with trends such as AI capital expenditure more consequential in the long run. Attacks on Iran on 28 February 2026, led by the […]

The post Middle East shock fails to rattle private banks as CIOs hold firm 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.

This is a sponsored advertorial from Schroders. In a world where passive funds dominate headlines, investors might ask: Does human insight and judgment still have an active role to play in investment?  A case in point is global equities, an asset class where passive vehicles previously outperformed active funds. Now, after years of narrow leadership, market drivers are broadening. This […]

The post The Active Edge – Unlocking value through active asset management appeared first on Asian Private Banker.

Private banks and asset managers foresee a continued standstill at the upcoming Federal Open Market Committee (FOMC) meeting, as the Fed continues to assess the impact of tariffs on the economy and inflation. There is some consensus among private banks, with Julius Baer and Standard Chartered both forecasting a delay in rate cutting at the meeting on 29-30 July, expecting […]

The post Fed on hold? Here’s how money managers are placing their bets appeared first on Asian Private Banker.

Markets are becoming increasingly desensitised to US President Donald Trump’s shifting tariff narratives, according to Asia-based asset managers, who advise clients to stay nimble as uncertainty surrounding US trade policy deepens. The uncertainty began on Monday when Trump extended the “Tariffs Day” deadline to 1 August 2025, warning key trading partners like Japan and South Korea of tariffs between 25% to […]

The post Markets desensitised to Trump’s latest “political theatre” – Asian fund managers appeared first on Asian Private Banker.

While headlines in 2024 have been dominated by success stories of large US tech firms making huge gains, US$205.2 billion AUM firm Lazard Asset Management (Lazard AM) believes the time may be right for a revival in US small caps. Among others, US small caps could disproportionally benefit from rate cuts due to the high amount of floating rate debt […]

The post US$205bn asset manager: Rates reversal bodes new era for US small caps appeared first on Asian Private Banker.

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 […]

The post Markets not pricing in rally if Trump wins election – Julius Baer CIO appeared first on Asian Private Banker.

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 […]

The post CIO Insight – Now is the time to increase China exposure: Deutsche Bank IPB appeared first on Asian Private Banker.

Private bankers and asset managers across Asia Pacific think that fixed income will be the top-performing asset class for the rest of 2023, according to a new poll conducted by APB Pulse. Of the responses to our debut APB Pulse survey, across both our website and LinkedIn, almost 42% of those who took part forecasted that fixed income would outperform […]

The post Cash is trash. But which asset do private bankers think will outperform in 2023? appeared first on Asian Private Banker.

Is the Federal Reserve’s latest decision to hike interest rates “boring”? Or does it indicate that policymakers are finally ready to loosen monetary conditions and reignite demand for risk assets? Asian Private Banker brings you the best of the market reaction below. On Wednesday, the Fed raised the benchmark rate by 25bp to between 5% and 5.25% in a widely-anticipated ‘hawkish […]

The post Could Fed’s “boring” rate hike ignite demand for risk assets? appeared first on Asian Private Banker.

 Alexander Treves, Head of APAC Investment Specialists for J.P. Morgan Asset Management’s Emerging Markets and Asia Pacific Equities team, outlines the robust growth story of a region that has long been underappreciated by investors.

The post ASEAN: a bright spot in global equities appeared first on Asian Private Banker.

Credit Suisse has reduced its equity allocation to underweight, believing the absolute return outlook for both developed and emerging market equities is “outright unattractive in the coming months”. Michael Strobaek, global CIO at Credit Suisse, cautions that being underweight equities does not mean a complete exit from the equities markets — which would be “ill advised” in his words. Rather, […]

The post Credit Suisse is underweight equities, warns of more risks ahead appeared first on Asian Private Banker.

The laundry list of concerns for investors can sometimes feel never-ending: rising inflation, energy prices and geopolitical tensions are just three of the challenges to contend with. Following a sell-off in equity and bond markets in the first half of the year, private banks in the region are maintaining a cautious stance when it comes to their allocations for 2H2022. […]

The post More volatility ahead? Here’s how VP Bank and UBP are weathering the storm appeared first on Asian Private Banker.

As the Chinese economy benefits from stimulus measures and lower inflation, its stocks will likely continue their outperformance in 2H22, according to UBS Chief Investment Office. The Chinese market “has been a beacon of light amidst the turmoil of late”, the Swiss bank said in an investment note distributed on Monday, with the MSCI China having outperformed Wall Street’s S&P […]

The post Chinese stocks to provide “bright spot in the stormy sea” in 2H22: UBS CIO appeared first on Asian Private Banker.

UBS Global Wealth Management (UBS GWM) clients in Asia-Pacific are seeking to hedge volatility in markets with strategies such as semi-liquid private markets, value-focused funds and short-duration bonds. That is according to Paula Ip, head of investment funds and private markets, Greater China, who told Asian Private Banker that concerns around rising interest rates, inflation and geopolitics had prompted clients […]

The post Premium Pickers: Three ways UBS GWM is hedging market volatility appeared first on Asian Private Banker.

Known for its Instagram-worthy destinations, Vietnam is home to about 98 million people. Its GDP growth slowed to 2.58% in 2021, but analysts have pegged growth to rise above 6% this year. It is on the verge of being promoted from frontier to emerging market status. And the country’s next phase of development may well be led digitally. Thanks its […]

The post Aside from food and culture, this Asian market has one more X factor appeared first on Asian Private Banker.

The technology sector may have enjoyed short term momentum last year, but private banks remain cautious about Chinese technology stocks. “We believe regulatory risk will remain a key overhang for Chinese technology stocks in 2022, despite their attractive valuation,” John Woods, APAC CIO at Credit Suisse told Asian Private Banker. China experienced a major sell-off in tech stocks in 2021 […]

The post Attractive valuations don’t offset the risks: PBs sound warning on Chinese tech stocks 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.

Asia is poised to be the brighter spot as the global economy recovers from COVID-19 in 2021, according to Nomura. Asia will enter a “reflation” and Asian currencies may appreciate against the US dollar. The equity rally in North Asia will likely persist and price in the region’s effective response to COVID-19. The Japanese bank posted an optimistic outlook for […]

The post Risk premia allocated to North Asian equities are too high: Nomura appeared first on Asian Private Banker.

Most high net worth clients who took a wait-and-see approach missed the rally or rebound since late March. Yet, since the recent market consolidation in September, they have been re-entering the growth equities strategies — mostly through managed solutions. Toh Tat Wai head of equities, funds & ETFs and discretionary management, RBC Wealth Management, told Asian Private Banker that there […]

The post Recent equity consolidation tempts hesitant HNW clients back into market appeared first on Asian Private Banker.

Asia’s private banking clients’ traditional preference for buying and holding single bonds or fixed income funds is being challenged as “much greater volatility” and “less depth of liquidity” are becoming the new theme. Davis Hall, head of capital markets, Asia at Indosuez Wealth Management, told Asian Private Banker that clients used to have the luxury of buying and holding in […]

The post Time when investors had the luxury to ‘buy and hold’ has gone appeared first on Asian Private Banker.

US dealmaking may have rebounded from their multi-year lows in 2Q20, but this doesn’t necessarily mean that stocks there will do well, says Standard Chartered. US mergers and acquisitions volume in dollar terms rebounded in 3Q20, exceeding 1Q20, according to data from Bloomberg and Standard Chartered. It had touched a multi-year low in 2Q20, the bank said. To be sure, […]

The post Don’t read too much in rebound of US dealmaking: StanChart appeared first on Asian Private Banker.

The year to date gold rally may push investors to consider alternatives of the yellow metal, such as gold equities, which Standard Chartered Private Bank believes to be a “reasonable” proxy due to their positive correlation, although they may bear higher risks. “To gain exposure to gold, one route investors may consider is gold equities, essentially equities of companies that […]

The post Standard Chartered PB: Gold equities serve as “reasonable” proxy for gold, but bear higher risks appeared first on Asian Private Banker.

In an interview with Jonathan Garner, Chairman of Asset Allocation, PWM Asia and Chief Asia & EM Equity Strategist at Morgan Stanley, we explore equity markets, investment ideas and his mid-year outlook for 2020. Please click here if the video doesn’t play.

The post APB Thought Leaders: Morgan Stanley Mid-Year Investment Outlook appeared first on Asian Private Banker.

DBS Bank is overweight on those stocks with ‘huge’ technology-related exposure, although the ‘new economy’ sector has reached a record high, which may raise concern over valuations. In the bank’s 3Q20 market outlook, Hou Wey Fook, CIO at DBS Bank, said that while the COVID-19 crisis is putting downward pressures on both economic and corporate earnings growth across the board, there […]

The post DBS Bank overweight equities with ‘huge’ tech-related exposure appeared first on Asian Private Banker.

As equity markets continue to edge higher, Credit Suisse Private Banking is urging investors to stay invested, believing the current underperformance of Asian equities will provide investors attractive investment opportunities, underpinned by improving economic data, reasonable valuation and USD weakness. In a media briefing on Tuesday, the Swiss lender said it previously described Asian equities as ‘Asia FIFO’ (first in […]

The post Asian equities shifting from ‘FIFO’ to ‘FOMO’: Credit Suisse PB appeared first on Asian Private Banker.

Despite concerns over US-China trade tensions and a synchronised slowdown in the global economy, UBS Global Wealth Management remains risk-on in Asia, believing the region is currently offering great value. Tan Min Lan, head chief investment office APAC, UBS Global Wealth Management, said in a media briefing today that, although Asia has already started to move towards normalisation in terms […]

The post Better earnings outlook and attractive valuations set to benefit Asian assets: UBS’s Tan Min Lan appeared first on Asian Private Banker.

Encouraged by widespread global fiscal and monetary support and the prospect of recovery in 3Q20, UBP is keeping the highest equity weights of the year and has shifted towards an alpha-focused approach. But as valuations climb and geopolitical risks loom, it has beefed up risk management. While continuing to sit with its highest equity weights of the year, UBP in […]

The post UBP pivots to alpha-focused equity strategies while adding put protection in June appeared first on Asian Private Banker.

As the recent rebound of risk assets has emboldened investor risk appetite, Standard Chartered Private Bank is urging investors to be conscious of the risk of a technical correction. “It is unlikely to be all smooth sailing from here,” the bank said. “The sharp run-up means that we see rising odds of a pullback.” The bank highlighted that persistently high […]

The post Standard Chartered PB sees rising odds of a near term correction appeared first on Asian Private Banker.

In its latest investment notes, private bank Lombard Odier has increased its allocation to US equities in a bid to look for winners in the healthcare sector. Stéphane Monier, chief investment officer, Lombard Odier Private Bank, said that the world needs a global and collaborative approach to medical infrastructure investments to tackle the pandemic, and that the increased focus on […]

The post Lombard Odier increases US equity exposure, focusing on healthcare appeared first on Asian Private Banker.

Just as they did three months ago, wealthy investors remain optimistic about the longer-term outlook, despite the recent sharp decline of risk assets and the uncertainties brought on by COVID-19, according to UBS Global Wealth Management. The bank’s quarterly global survey polled 4,108 wealthy investors and business owners in April. Almost half of the respondents expected to keep their stock […]

The post HNWIs hold on tight to risk assets: UBS GWM 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.

Standard Chartered Private Bank is shifting equity exposure from Asia to US and Europe as the bank describes itself is “cautiously optimistic” about the overall risk assets, working from the assumption that the virus outbreak will peak this month. “The strong rebound in risk assets, following the brief pullback caused by the coronavirus outbreak, suggests the market impact of the […]

The post StanChart PB is rebuilding exposure via US and Europe equities appeared first on Asian Private Banker.

As Asian investors turned more positive on the market as 2019 progressed, Taiwan-listed ETFs/ETPs (comprising mostly bond products) gathered US$25.2 billion in 2019, the most of all ETFs/ETPs in the region, according to the latest data by asset manager Vanguard. This figure was followed by China-listed ETFs/ETPs (US$10.0 billion), South Korea-listed ETFs/ETPs (US$5.2 billion) and India-listed ETFs/ETPs (US$5.1 billion). Hong […]

The post In 2019, Taiwan attracted the most ETF inflows in Asia: Vanguard appeared first on Asian Private Banker.

Despite lingering headwinds for the global economy and corporate earnings growth, Credit Suisse Private Banking expects risk assets to keep performing well in 2020. In a media briefing on 2 December, Credit Suisse’s APAC CIO John Woods said that better geopolitical relations — especially an easing of the trade tensions between the US and China — accommodative liquidity conditions, and […]

The post Credit Suisse PB expects “modest single digit” return for global equities in 2020 appeared first on Asian Private Banker.

This week: Noah WM says more opportunities will arise from EM than DM; Credit Suisse PB believes markets overestimating Fed rate cuts; LGT PB plays ‘barbell’ by increasing equities and gold; Pictet WM expects four rate cuts from Fed in 2020; and Standard Chartered PB says gold will benefit from the near-term equity market pullback. More opportunities to arise from EM than DM: […]

The post CIO Weekly – Featuring Noah’s William Ma appeared first on Asian Private Banker.

Markets are overestimating expected rate cuts from the Federal Reserve, according to Credit Suisse’s Michael Strobaek, who said that the central bank is likely to take a pause from here after its third cut last month. “Bond markets have become a little too aggressive in terms of expectations for further rate cuts from the US Fed,” the global CIO of […]

The post Markets overestimating Fed rate cuts says CS global CIO Michael Strobaek appeared first on Asian Private Banker.

In Year Ahead 2020 – UBS House View, the Swiss bank shifted its tactical asset allocation of global equities from “overweight” at the beginning of 2019 to “neutral”, and has emphasised the need for diversification as volatility increases in the late economic cycle. The Swiss giant has labelled 2020 as a “Year of Choices”, with an array of geopolitical events […]

The post UBS turns neutral towards global equities in 2020 appeared first on Asian Private Banker.

Given high equity valuations and rising investment uncertainties, UBP is adding call options as an “asymmetric” solution for better risk management when participating in the upside. “Risk management is key as we contemplate richly valued markets both in US equities and across broader fixed income,” the bank said in its latest asset allocation investment strategy report. Indeed, US equities have […]

The post UBP adds call options to participate in upside potentials appeared first on Asian Private Banker.

Asia’s private banks are warning clients of tail risks but continue to see pockets of “slow growth” opportunities in 2020, several delegates expressed at the Singapore leg of Asian Private Banker’s High Conviction: 2020 Investment Ideas & Themes event. Toward the tail-end of an eleven-year bull market, banks are cautioning clients to take note of the tail risks — most notably […]

The post PBs warn of tail risks, continue yield hunt amid “slow” 2020 growth appeared first on Asian Private Banker.

In view of the encouraging recovery in global equity markets in 2019, Schroders Wealth Management has urged clients to be mindful of high equity valuations. At an exclusive client event attended by Asian Private Banker, Caspar Rock, chief investment officer at the wealth manager announced that equity markets are currently above historical averages on valuations, and that investors should be wary […]

The post Schroders WM CIO Caspar Rock cautions investors on equity valuations appeared first on Asian Private Banker.

Despite growth concerns pushing Asia’s private banks into bond markets this year, especially fixed maturity plans (FMPs), a demand rotation from fixed income to equities is likely over the next 12 months, according to Legg Mason. This can be attributed to existing bond holdings on those banks’ books not being safe anymore, the firm’s active equity specialist Martin Currie said. “In […]

The post This year “all about FMPs”, but change incoming: Legg Mason appeared first on Asian Private Banker.

Asia’s discretionary managers expect the top overweight call among private banks to shift from US equities in 2019 to Asia ex-Japan equities next year. According to the survey results collected from Asian Private Banker’s Discretionary Dialogue forum in Singapore this year, 43% of respondents said US equities have been at the top of the high conviction list in their banks, […]

The post DPM managers expect top overweight call to shift from US to AxJ equities next year appeared first on Asian Private Banker.

Indosuez Wealth Management has launched a Hong Kong-China equity portfolio for its discretionary platform, despite a risk-off sentiment across the private banking industry in Asia. Grizelda Lee, head of discretionary portfolio management, Asia at the bank, told Asian Private Banker that the mandate has been well-received among private clients despite initial doubts regarding the sustainability of the China equity rally. […]

The post Indosuez WM launches China equity mandate amid risk-off sentiment appeared first on Asian Private Banker.

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 […]

The post PB clients flee from equity ETFs with “massive redemptions” in August: Vanguard appeared first on Asian Private Banker.

Credit Suisse Private Banking has further increased its equity positions and decreased allocations to fixed income given attractive equity risk premiums, according to the lender’s latest asset allocation. “The yield advantage of equities relative to bonds is indicative of a high equity risk premium,” the bank said. “In the US, the S&P 500 offers an earnings yield of 5.5%, which […]

The post Credit Suisse PB increases equity exposure appeared first on Asian Private Banker.

In a bid to expand its client base, UBS Asset Management is making its China equity strategy available to Hong Kong retail clients, targeting those with investable assets of US$1 million-5 million, the asset manager told Asian Private Banker. According to Markus Egloff, head of wholesale client coverage APAC at UBS AM, the Swiss player has tended to focus on […]

The post UBS AM offers China equity fund to affluent retail clients in Hong Kong appeared first on Asian Private Banker.

Last year’s fourth quarter downturn and a flurry of geopolitical events have no doubt dented risk appetite among Asia’s clients in 2019, but this risk-off sentiment is likely to turn over the next 12 months, according to delegates at Asian Private Banker’s 8th Funds Selection Nexus 2019. Specifically, 81% of survey respondents believe fund flows will increase over the next year, with […]

The post PBs expect risk appetite to return over next 12 months appeared first on Asian Private Banker.

Property prices in Hong Kong are likely to continue rising for the remainder of the year, albeit at a slower pace, according to DBS Bank. Jeff Yau, Hong Kong property sector analyst at DBS, told media this morning that although secondary residential market activities have slowed since July and prospective buyers are increasingly adopting a ‘wait and see’ approach, home […]

The post HK property prices to continue growing despite unrest: DBS Bank appeared first on Asian Private Banker.

UBS Global Wealth Management remains positive on US and Japan equities, believing current market fears regarding recession risks are overblown. In its latest monthly house view and asset allocation investment report, the Swiss bank said investors have been taking profits over the past three years, with cash holdings currently at their highest level in almost a decade. “Overall, until we […]

The post UBS GWM prefers US and Japan equities, says market fears are “overstated” appeared first on Asian Private Banker.

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 […]

The post Bank of Singapore turns negative on equities amid growing recession risks appeared first on Asian Private Banker.

As volatility drops to March/April lows and credit spreads tighten further, UBP is increasingly looking to ‘asymmetric’ equity strategies and short duration bonds. “We expanded exposure to partially capital-protected structured products in portfolios, and with volatility approaching 2019 lows, we believe the cost of protection is increasingly attractive,” the bank said in its latest asset allocation report. The Swiss pure […]

The post UBP looks to principal-protection strategies, short duration bonds appeared first on Asian Private Banker.

Standard Chartered Private Bank has upgraded US equities and downgraded Asia ex-Japan stocks in its tactical asset allocation in a bid to avoid short-term volatility, according to the bank’s latest monthly investment report. In line with its moderate global focused asset allocation strategy, the bank has allocated 21% to US equities — up from 18% three months earlier — and […]

The post Standard Chartered PB upgrades US, downgrades AxJ equities appeared first on Asian Private Banker.

Bank of Singapore has upgraded Asia ex-Japan and US equities in its tactical asset allocation from neutral to overweight owing to positive geopolitical developments and constructive economic data. According to an exclusive investment memo, Bank of Singapore currently allocates 13.7% and 18.3% to Asia ex-Japan and US equities, respectively — up from last month’s 12% and 16%. “The much-awaited Trump-Xi […]

The post Bank of Singapore upgrades Asia and US equities appeared first on Asian Private Banker.

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 […]

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

Bank of Singapore has upped exposure to emerging market (EM) high yield (HY) fixed income while further downgrading Asia ex-Japan equities in its latest tactical asset allocation strategy, the bank told Asian Private Banker by way of an exclusive investment note. Over the past month, the bank has increased EM HY exposure in its balanced portfolio by one percentage point to 7% […]

The post Bank of Singapore ups EM HY exposure, trims AxJ equities appeared first on Asian Private Banker.

Globally, fund selectors are increasingly favouring actively managed solutions given downgraded long-term fund returns, according to Natixis Investment Managers. A recent survey conducted by the asset manager found that fund buyers, on average, have lowered their long-term return expectations from 8.4% in 2018 to 7.7% in 2019, citing greater volatility in equities, trade disputes, and higher interest rates as the […]

The post Fund selectors lean towards active fund strategies amid returns downgrade appeared first on Asian Private Banker.

In its latest asset allocation strategy, UBP has upped exposure to Asia equities and emerging market debt as the bank anticipates a more benign economic and earnings outlook. Equity and fixed income markets have, overall, rebounded over the past quarter, predominantly driven by the Fed’s monetary U-turn and more stable economic indicators across the globe. Despite concerns over the sustainability […]

The post UBP increases Asia equities and EM debt exposure appeared first on Asian Private Banker.

Given the year-to-date rally in Asia ex-Japan equities, Bank of Singapore has trimmed its overweight position on the asset class in its latest tactical asset allocation. In a balanced portfolio, the bank has reduced Asia ex-Japan equities exposure to 14.4%, down from 16.8% one month ago. “US-China trade tensions have eased further in February, spurring renewed risk-taking and rewarding our […]

The post BoS downgrades Asia ex-Japan equities following “dramatic” rebound appeared first on Asian Private Banker.

Bond ETFs have proved particularly popular amongst private banking investors, Vanguard told Asian Private Banker, highlighting that, over the last six months, four of its top ten funds by inflow were fixed income solutions. Linda Luk, managing director, head of distribution, Hong Kong at Vanguard Investments Hong Kong, said that most bond ETF inflows have gravitated towards the short-duration space, […]

The post PBs flock towards bond ETFs despite concerns over cap-weighted construction appeared first on Asian Private Banker.

An increase in the inclusion factor of China A-shares in the MSCI Emerging Markets Index will not only drive inflows into China’s equity market but also increase HNW investors’ exposure to the constituent stocks, according to the head of China strategy at UBS Securities. Benchmark provider MSCI has announced it will quadruple the inclusion factor of China A-shares in its emerging […]

The post MSCI’s quadrupling of A-share inclusion factor will increase HNW exposure to constituent stocks: UBS Securities appeared first on Asian Private Banker.

Protracted volatility in the stock market has prompted Asian high net worth investors to shift their trading activities from equities to FX as the latter is widely considered to be an “all-weather” investment, according to Indosuez Wealth Management. “FX is an all-weather product for both banks and clients,” Arjan de Boer, head of markets and investment solutions, Asia at Indosuez […]

The post Investors move from equity to FX trading, accumulators dominate flow in Asia: Indosuez WM appeared first on Asian Private Banker.

Following an indiscriminate sell-off in equities last year, 2019 has kicked off with a robust market rally, lifting the spirits of disheartened investors. But is the rally here to stay? “While the rally was impressive, it came against a backdrop of falling earnings expectations,” UBP CIO Norman Villamin said in a monthly investment note, adding that in light of the […]

The post 2019’s YTD rally — should investors get their hopes up? appeared first on Asian Private Banker.

Morgan Stanley Private Wealth Management in Asia will continue to place emphasis on alternatives in 2019, with a pipeline that features a flurry of opportunities in private debt, private equity, and real estate, and a soon-to-launch venture capital platform. Alternatives focus “In the last few years, Morgan Stanley PWM has placed significant focus on alternatives and this year will be […]

The post Investment advisory outlook 2019: Morgan Stanley PWM Asia maintains alternatives focus, looks to launch VC platform appeared first on Asian Private Banker.

Thematic and sector-related funds attracted more than US$230 billion in net inflows in 2018 despite risk-averse investor sentiment prompting a notable sell-off of assets. According to Morningstar, which was unable to provide details on where the flows had originated from, technology-themed mutual funds enjoyed the largest inflows in 2018, totalling more than US$114 billion, followed by consumer goods and services-related […]

The post Thematic funds saw significant inflows in 2018 despite dented risk appetite: Morningstar appeared first on Asian Private Banker.

Standard Chartered Bank has upgraded its view on global equities as investors’ risk appetite returns in the wake of global macroeconomic developments. According to its global market outlook, Standard Chartered has increased its equity exposure to 34% — up from 28% one month ago — in its global-focused moderate tactical asset allocation (TAA). “Global equity markets have got off to […]

The post Standard Chartered Bank increases equity holdings by 6 pps appeared first on Asian Private Banker.

Indosuez Wealth Management in Asia is focusing on income through equity dividends in 2019, driven by deteriorating fixed income prospects and a broad shift in its investment strategy from growth to value following last year’s correction. Pursuing income through equities “We are currently overweight equities relative to fixed income but still slightly less overweight compared to last year,” Arjan de […]

The post Investment advisory outlook 2019: Indosuez seeks income through equities appeared first on Asian Private Banker.

This week: HSBC PB says Wednesday’s Fed meeting supports speculation of a dovish shift; Bank of Singapore adds exposure to Asia and Japan equities; Morgan Stanley’s Garner forecasts 10% upside for the HSI; Deutsche Bank WM believes gold will rally; and UBS GWM advises investors to take advantage of easing China policy via credit. HSBC PB: Last night’s Fed meeting […]

The post CIO Weekly – Featuring HSBC PB’s Fan Cheuk Wan appeared first on Asian Private Banker.

Owing to a less hawkish Fed and optimism surrounding US-China trade talks, subsiding headwinds bode well for both Asia and Japan equities, according to Bank of Singapore. In keeping with its outlook, the bank recently increased exposure to Asia ex-Japan and Japan equities in its balanced tactical asset allocation (TAA) to 16.8% and 4.8%, respectively — up from 14.4% and […]

The post Bank of Singapore adds exposure to Asia and Japan equities appeared first on Asian Private Banker.

Positive US earnings in the coming quarter or two will be the primary determinant for an equity exposure upgrade, according to Morgan Stanley Private Wealth Management, which believes the call could trigger momentum. “When our analysts speak, the market listens” “In equities, clients are still more reluctant to build significant positions despite better levels as they already have certain exposure […]

The post “If our US equity call changes, momentum could come back”: Morgan Stanley’s Ernest Chan 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.

Deutsche Bank Wealth Management has revealed its top six thematic investment ideas which the bank will use to rebalance its thematic discretionary mandate in a challenging 2019 it describes as being “beyond the peaks”. Christian Nolting, global CIO and global head of discretionary portfolio management, told Asian Private Banker at a media briefing on 18 January that following a review, […]

The post Deutsche Bank WM rejigs top thematic investment ideas appeared first on Asian Private Banker.

Significantly impacted by US trade and the Fed’s monetary decisions, 2019 is set to be another volatile year for global investors, according to UBS Global Wealth Management. “2018 was one of the worst markets for multi-asset portfolios in many years, and in some ways it was worse than the financial crisis because you couldn’t make money with a bond portfolio,” […]

The post 2019 set to be another volatile year: UBS GWM’s Mark Haefele appeared first on Asian Private Banker.

  This is a sponsored article from NN Investment Partners. 2018 was a difficult year for global financial markets with an unusually high percentage of markets across all asset classes posting negative returns. Global convertible bonds (CBs), by contrast, held up fairly well with only modestly negative returns. The equity sensitivity of the asset class decreased alongside global equity markets, […]

The post Convertible bonds: Navigating opportunities beyond economic storm clouds appeared first on Asian Private Banker.

With doggedly tempestuous markets bruising much of 2018, the region’s wealth managers were impelled to react rapidly and with conviction for both the bottom line and for clients. As 2019 approaches, Asian Private Banker reviews the top five investment trends that defined the Year of the Dog for the industry. 1. Equity repositioning Despite robust fundamentals, equity markets in 2018 […]

The post Key investment trends in 2018 appeared first on Asian Private Banker.

The Fed’s monetary tightening cycle is likely to peak midway through next year, which will benefit risk assets, particularly US and Asia equities, according to HSBC Private Banking. Fan Cheuk Wan, chief market strategist, Asia, at HSBC Private Banking, said in a media briefing on 17 December that rising rates, to a large extent, have caused the meltdown of traditional markets […]

The post HSBC PB’s Fan: Fed’s tightening cycle to peak mid-2019 appeared first on Asian Private Banker.

Investors are becoming increasingly defensive amid this late economic cycle, which augurs well for overall Asian equities, particularly those of China and Japan, according to Nomura Holdings. Jim McCafferty, head of equity research, Asia ex-Japan at Nomura, told a media briefing in Hong Kong that earnings growth for global equities is likely to drop noticeably in the first quarter of […]

The post Asian equities to benefit from defensive investors: Nomura appeared first on Asian Private Banker.

This is a sponsored article from PineBridge Investments.* Increased financial market volatility in 2018 has raised concerns about the durability of the long-running global business cycle — are we facing growing recession risks or continued, if slower, growth? The trajectory of the global business cycle rests on the ability of the US Federal Reserve to successfully normalise monetary policy and […]

The post Outlook for 2019: Rising Above the Business Cycle appeared first on Asian Private Banker.

Growth concerns and a potentially dovish Fed have divided Asia’s wealth managers’ forecasts on the greenback, with more than 60% expecting the USD to weaken against the EUR in the coming 12 months. According to a recent Asian Private Banker survey, 62% of respondents expect the USD to weaken against the EUR in the coming 12 months, with 32% and […]

The post More than 60% of wealth managers expect weaker USD in coming 12 months appeared first on Asian Private Banker.

This week: CreditEase advises investors to shift from capital markets to alts; UBS GWM believes ASEAN will fill the production gap widened by trade tensions; Standard Chartered WM recognises the strong pricing power of the US tech sector; DBS says the healthcare sector offers an “oasis of calm” in a volatile market; and J. Safra Sarasin thinks the declining valuations of European […]

The post CIO Weekly – November 2018 Week 4 appeared first on Asian Private Banker.

US-China trade frictions were cited as the greatest concern for Asian HNWIs’ portfolios, according to 37% of respondents in a recent Asian Private Banker survey, a stark contrast from early 2018 when banks shrugged off the issue as inconsequential posturing. In second and third, respondents cited downside protection (26%) and high market valuation (21%), respectively, as the next most pressing […]

The post US-China trade tensions cited as top concern for Asian HNWIs’ portfolios appeared first on Asian Private Banker.

This week: Julius Baer’s Laxminarayan says market sentiment may outweigh fundamentals in Asian HY; UBS GWM thinks the recent equity selloff is just a bull market correction; Bank of Singapore has better hopes for Asian currencies as oil prices drop; DBS advises investors to adopt barbell approach to growth and income; and BNP Paribas WM talks oil prices. Julius Baer’s […]

The post CIO Weekly – November 2018 Week 3 appeared first on Asian Private Banker.

Given the unease surrounding ongoing and rising US-China trade tensions, 90% of Hong Kong investors are planning to revise their asset allocation, according to a survey conducted by Legg Mason Global Asset Management. In terms of asset allocation rebalancing, more than one-third (35%) of survey-takers intend to increase their exposure to fixed income, followed by 29% who plan to take […]

The post 9 of 10 HK investors to revise asset allocations due to rising trade tensions: Legg Mason appeared first on Asian Private Banker.

Bank of Singapore’s Hong Kong head of equities advisory has tendered his resignation, Asian Private Banker can reveal. Henry Hui, the Singaporean bank’s head of equities advisory, Hong Kong, has resigned after joining the bank three years ago as a trading advisory and product development team lead. Previously, he had worked for the likes of UBS, Citi, and Crédit Agricole […]

The post BoS loses Hong Kong head of equities advisory appeared first on Asian Private Banker.

Credit Suisse has launched its proprietary equity analysis platform for the onshore Chinese market in a bid to capture a larger slice of Chinese wealth, the platform’s APAC head revealed in a conversation with Asian Private Banker. At its annual China Investment Conference held in Shenzhen on 6 November, the Swiss lender launched HOLT, a platform targeted at asset managers, […]

The post Credit Suisse strengthens China onshore push with analytical platform launch appeared first on Asian Private Banker.

DBS is targeting a sweet spot for ESG investing in Asia through a structured product that tracks the performance differential between a broad index and one that is ESG-compliant. The structure is a 3-year participation note that allows the investor to short a broad, standard equity index and, at the same time, long an ESG-compliant subset index. DBS currently offers […]

The post DBS pinpoints ESG sweet spot through structured product appeared first on Asian Private Banker.

Access to a World Bank-issued structured note, launched in partnership with exclusive underwriter UBS, has been extended to UBS Global Wealth Management’s (GWM’s) clients, granting private investors exposure to an index made up of UN Global Compact Signatories. The structured note invests in the ‘Global Sustainability Signatories Index 7.5% VC ER’, an index created by ESG ratings and research firm […]

The post UBS GWM clients in Asia gain access to World Bank structured notes appeared first on Asian Private Banker.

Following a blockbuster 2017 for private banks’ discretionary mandates, which delivered impressive performance and asset growth across the board, the industry’s major players have further bulked up their discretionary portfolio management (DPM) shelves, with an emphasis on equity solutions. Over the past 12 months, private banks in Asia have been actively launching new DPM solutions in what appears to be […]

The post Private banks ramp up equity DPM product development in Asia appeared first on Asian Private Banker.

As the year marches into its final quarter, DBS Private Bank has upgraded Asia (ex-Japan) equities to overweight, from neutral in 3Q18, with the expectation of “emerging value” in China and North Asia in general, in spite of a strong US dollar and lingering trade war tensions between China and the US. “Due in part to market woes in other […]

The post “Re-engage with China”: DBS’s CIO appeared first on Asian Private Banker.

Asian private clients are re-engaging the US growth stock market following the sector’s recent and significant pullback, according to asset manager T. Rowe Price. “I get the impression that Asia’s private banking clients are now more interested in US equities versus six months ago when they only saw them as plainly expensive,” Julian Cook, portfolio specialist for US large cap […]

The post Asia’s PB investors keen to regain US growth exposure: T. Rowe Price appeared first on Asian Private Banker.

China’s banking sector is set to be one of the biggest beneficiaries of the country’s “countercyclical” policies in early 2019, according to UBP Private Banking’s CIO. “The declining funding cost along with relatively higher dividend yields makes Chinese banks really attractive,” said Norman Villamin, CIO of UBP Private Banking. The private bank is overall overweight on China equities —  expecting […]

The post “Really attractive” opportunities in China’s banking sector: UBP’s Villamin appeared first on Asian Private Banker.

Market turmoil usually bodes well for volatility-managed fund strategies but underperformance year-to-date has made Asian HNWIs revise their standard approach to turbulent market environments. “At the beginning of this year, we were quite positive on [low-volatility and volatility-managed strategies],” Vincent Ng, joint CIO, wealth management, Asia ex-Japan at Nomura, told Asian Private Banker. “However, we’re quite disappointed by the year-to-date performance of […]

The post Asia’s wealthy rethink low-vol funds due to disappointing performance appeared first on Asian Private Banker.

Goldman Sachs Private Wealth Management has launched two new single asset class discretionary portfolio management (DPM) solutions — one for equities and one for fixed income — with a focus on enhancing alpha generation through alternative security selection approaches and underlying assets. Leveraging big data and machine learning for equity security selection For equities, Goldman Sachs Private Wealth Management has leveraged […]

The post Goldman Sachs PWM draws interest in Asia through big data equity and illiquid fixed income mandates appeared first on Asian Private Banker.

This is a sponsored article from PineBridge Investments. Over the past several months, we have witnessed two interesting phenomena in India. The first is the dichotomy between India’s macro and micro signals. The second is the outsize role of a few stocks in driving the stock market. Both offer insights into why selectivity is essential when investing in India’s equity […]

The post Two new reasons to be selective in India equities appeared first on Asian Private Banker.

UBS Global Wealth Management is urging investors not to take extra risk in the US equity market, although the bank still advises staying invested given a benign economic environment. “[Previously], if clients bought overseas equities then it was mostly the US,” Adrian Zuercher, head of asset allocation APAC, CIO office at UBS Global Wealth Management, told Asian Private Banker, adding […]

The post Don’t take extra risk in US stocks: UBS GWM’s Zuercher appeared first on Asian Private Banker.

Nomura Holdings expects a “disconnect” between Chinese equities and the domestic economy in the second half of 2018 when a downturn economy will coincide with a robust share market. Ting Lu, Nomura’s chief China economist, said the relatively strong economy in 1H18 was predominantly driven by the depreciation of the RMB. However, as the currency is expected to strengthen, “exports, the major […]

The post “Disconnect” between Chinese equities and domestic economy in 2H18: Nomura appeared first on Asian Private Banker.

Against the backdrop of escalating trade tensions, DBS is advising heavily invested clients to “take some money off the table”. The suggestion comes following the bank’s upgraded view on cash. Heading into the third quarter, the bank changed its position on what is often regarded as the safest asset class from neutral to overweight. At the same time, it went […]

The post “Take some money off the table”: DBS’s Hou appeared first on Asian Private Banker.

Welcome to Asian Private Banker’s latest CIO Weekly, a focused roundup of key views and comments from private banking CIOs on the state of global markets and macroeconomics. This week: DBS Wealth Management downgrades its view on equities, UBS urges investors to stay invested and not rush to take profits, J. Safra Sarasin shares its relatively negative view on financials, […]

The post CIO Weekly – July 2018 Week 1 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.