PANews reported on May 14 that according to Cailian Press, Amy Lo, co-head of UBS Group's Asia Wealth Management, said that UBS's high-net-worth clients are increasingly withdrawing from US dollar assets and turning to gold, cryptocurrencies and Chinese assets. "Gold is very popular now," Lo said in an interview with Yvonne Man at the Bloomberg New Voices event held in Hong Kong on Tuesday. She pointed out that the tense trade relations between China and the United States have prompted investors to begin to diversify their asset allocations that were originally "quite US-centric"; in addition to looking for other currency assets, investors have also invested more funds in cryptocurrencies, commodities and alternative assets. "Volatility will definitely continue." Lo added.
UBS says its high-net-worth clients are turning to gold, cryptocurrencies, Chinese assets
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