Money managers for Asia's wealthy see end to US$ rally

Singapore

MONEY managers for Asia's wealthiest families say they'll be looking elsewhere for returns after chasing the US dollar's gains in the past three years.

UBS Group AG, the world's largest private bank, is telling clients there's "little room for further dollar appreciation", said James Purcell, cross-asset strategist at its wealth management business in Hong Kong. Stephen Diggle, who runs a family office in Singapore called Vulpes Investment Management, said that US rate increases aren't enough "to chase a strong dollar".