UBS is upbeat on eurozone

Singapore

THE eurozone is the most promising place to park money right now despite the recent turmoil there but steer clear of Greece, a top discretionary portfolio manager at UBS said on Tuesday, adding that Singapore equities are also starting to look relatively attractive after having retreated more than 5 per cent since the start of this year.

Patrick Grossholz, managing director and head of Asia-Pacific investment management at UBS, said in an interview at the bank's One Raffles Quay office that investors in the region tend to be underexposed to Europe and overexposed to Asian markets such as China, largely because of "home bias". They are also typically too dependent on individual stocks or individual bonds, he added.