News Snapshot:
With growing concerns over rising inflation and market volatility, Asia’s wealthy are turning cautious. People with more than US$1 million of investible funds are repositioning towards private markets to shield their assets from market volatility, Lombard Odier’s 2022 study about high-net-worth individuals in Asia-Pacific found. They have increasingly shunned stocks and bonds to focus on their own companies or assets deemed safer such as gold and cash. At the same time, they’ve largely stayed clear of cryptocurrency, which has proved particularly volatile. China’s billionaire population shrinks amid tech, property crackdowns “APAC investors are becoming more conservative in their portfolio construction...
