- UBS says its ultra wealthy clients are moving out of stocks to invest in more illiquid areas.
- Some of these include residential real estate and private equity, the Swiss bank said in a report this week.
- Josef Stadler, head of family office at UBS Wealth Management said many of its ultra wealthy clients took loans to invest in stock markets.
- Stadler said: "They bought a billion-plus of those equities to rebalance. And they made a lot of money."
- Visit Business Insider's homepage for more stories.
The world's largest wealth manager said its ultra wealthy clients are now done with equities and are looking at less liquid areas to invest in.
UBS, the world's largest private bank, also known as a "fortress bank of billionaires" said during the slump in stock markets some of the bank's richest clients took loans to invest billions in stock markets.
See the rest of the story at Business Insider
NOW WATCH: Why you don't see brilliantly blue fireworks
See Also:
- Big investors say tech stocks are in demand like never before — and Bank of America is recommending these 3 trades for the best protection against a collapse
- Wall Street breaks down how to trade the 2020 election, from a Trump triumph to a Biden blue wave
- UBS says buy these 18 diamond-in-the-rough stocks that will offer massive gains over multiple years, even as their underlying industries suffer
from Business Insider https://ift.tt/2DRrlSK
No comments:
Post a Comment