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Cash is king for the rich

The world’s rich are erring on the side of caution by increasing their cash holdings, according to a recent Quarterly Investor Sentiment survey by UBS. The survey reveals that cash accounts for around 32% of high-net-worth portfolios. The ratio was highest in Asia and Latin America at 36%, and the lowest in US at 23%. Despite the strong surge in stock markets in 2019, investors are not investing to the extent they have done in the past.

Concerns expressed by respondents are also at variance. Most Americans are worried about the politics in their nation, while concerns on inflation and the global trade war dominate in Latin America and Asia respectively.