Private bank advice for post-Brexit world
Investors are being reminded that 'uncertainty can mean opportunity as well as risk'. So put cash to work once more clarity emerges.
GLOBAL markets have been reeling from Britain's decision to leave the European Union, and investors in Asia are understandably anxious to avoid being burned by shifting global developments after "Brexit". With currencies fluctuating and Europe's already-weak growth forecast further downgraded, how should investors position their portfolios for the uncertainty ahead?
Asia's private banks have been quick to assure investors the world isn't ending, and to offer strategies.
Some, like James Cheo, investment strategist at Bank of Singapore, suggest that the best plan would have been to follow their pre-Brexit advice and take a neutral stance on global stocks. If you didn't, Mr Cheo says, "it is perhaps too late".
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