Protectionism fears should not prompt portfolio shifts: UBS
Clients advised to tweak portfolios by cutting Asean exposure and hedge against currency positions
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Singapore
EVEN during this period of greatest uncertainty brought by fears of more trade protectionism, Singapore millionaires are not advised to make large shifts in portfolios to guard against trade wars, said a senior UBS banker.
Economic growth has hummed along despite the death of trade pacts such as Trans-Pacific Partnership, noted Hartmut Issel, head of equity and credit in Asia-Pacific at UBS Wealth Management, at a media briefing on Wednesday.
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