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Rich Asians are hanging onto investment funds until coronavirus pandemic ends, DBS expert says

Asia’s wealthy are readying cash to take advantage of opportunities in financial markets and private equity once the impact of the coronavirus pandemic subsides, according to the head of private banking at Southeast Asia’s largest lender.Clients have increased cash holdings to about 40 per cent of their portfolios in recent months, up from about 30 per cent before the pandemic, Joseph Poon, who leads DBS Group Holdings’ private bank, said in an interview this week. While the unit doesn’t…

Read the original article at South China Morning Post

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