StashAway slashes China allocation on fears of secondary sanctions

Singapore

SOME users of roboadviser StashAway opened their app on Monday (Mar 14) to find that their holdings in a key China technology fund were about to be completely sold off, marking a stark reversal in the company's stance towards China.

Even as a crackdown crushed tech valuations, StashAway had advised its clients to stay invested in the long term amid China's rapidly growing economy and path to technological revolution.