Money managers for Asia’s wealthiest families say they’ll be looking elsewhere for returns after chasing the US dollar’s gains in the past three years.
UBS Group AG, the world’s largest private bank, is telling clients there’s “little room for further dollar appreciation,” said James Purcell, cross-asset strategist at its wealth management business in Hong Kong. Stephen Diggle, who runs a family office in Singapore called Vulpes Investment Management, said US rate increases aren’t enough “to chase a strong dollar.” Stamford Management Pte, which oversees US$250 million ($352 million) for Asia’s rich, will review its outlook for greenback gains after expected advances in the first quarter, said Jason Wang, its chief executive officer in the city.
Strategists also predict the dollar’s gains will slow in coming months after the Federal Reserve committed to a gradual pace of tightening. The currency will appreciate about 5% to $1.05 per euro by the third quarter of 2016, according to a Bloomberg survey, after surging 10% this year. Its advance versus the Japanese currency will be limited to less than 4% to 125 yen, after gains slowed to about 0.6% in 2015, from more than 10% in each of the previous three years.
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UBS Group AG, the world’s largest private bank, is telling clients there’s “little room for further dollar appreciation,” said James Purcell, cross-asset strategist at its wealth management business in Hong Kong. Stephen Diggle, who runs a family office in Singapore called Vulpes Investment Management, said US rate increases aren’t enough “to chase a strong dollar.” Stamford Management Pte, which oversees US$250 million ($352 million) for Asia’s rich, will review its outlook for greenback gains after expected advances in the first quarter, said Jason Wang, its chief executive officer in the city.
Strategists also predict the dollar’s gains will slow in coming months after the Federal Reserve committed to a gradual pace of tightening. The currency will appreciate about 5% to $1.05 per euro by the third quarter of 2016, according to a Bloomberg survey, after surging 10% this year. Its advance versus the Japanese currency will be limited to less than 4% to 125 yen, after gains slowed to about 0.6% in 2015, from more than 10% in each of the previous three years.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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