Frankfurt Against the background of the current banking crisis, the world’s largest asset management company advises investors to exercise caution when investing in shares. UBS Global Wealth Management has $3.4 trillion in assets under management. After the forced takeover of former competitor Credit Suisse, she expects assets under management to be in excess of five trillion dollars.
“We see a crisis of confidence among banks in the market,” says Maximilian Kunkel. He advises the wealthy clients and family offices of UBS Global Wealth Management as an investment strategist. This crisis of confidence has an impact on the economy and the orientation of investments. “For almost two weeks we have been recommending, from a tactical, i.e. short-term, perspective for six to twelve months, to underweight equities in the portfolio as a whole,” he said in an interview with the Handelsblatt.
Maximilian Kunkel and his colleagues are particularly skeptical about the US stock markets and specifically about the US banks. Read more about the stock recommendations of the chief investment strategist at UBS in German-speaking countries here.
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