High net worth, mass affluent offer private banks best potential
Despite volatile 2018, UBS, Bank of Singapore, Credit Suisse, HSBC and others enjoyed robust net inflows
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Genevieve Cua
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Singapore
PRIVATE banks enjoyed robust net inflows in 2018, but risk appetite has turned cautious in the wake of the market downdraft and worries over the fallout from US-China trade tensions.
There is a silver lining to the market volatility, however. Bankers report healthy inflows into discretionary portfolio management (DPM) services where investment decisions are taken out of clients' hands.
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