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Investors keep record cash on election fears: UBS

The bank's executive says clients are confident about the economy but are hesitant to invest because the Nov 8 election seems so unpredictable

New York

WEALTHY US investors are holding record cash balances out of fear that the US presidential election will wreak havoc on their retirement accounts, a senior UBS Group AG executive said.

Bob McCann, who chairs the Swiss bank's Americas division, said in an interview this...