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
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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