With the continuous intensity in the global economy, there is a huge shift away from U.S. dollar-based assets. UBS Group’s high-net-worth clients now favor gold, cryptocurrencies, and Chinese investments. Amy Lo, Co-Head of Wealth Management for Asia at UBS, highlights the growing trend. She has spotlighted this during her interview at Bloomberg New Voices.
The event was held on Tuesday in Hong Kong, where Lo unveiled the matter of mounting trade tensions between China and the United States. Because of the increasing tension between the two countries, the wealthy investors diversified their portfolios. Now, they have a keen focus on gold and crypto instead of traditional U.S.-centric assets.
Amy Lo Highlights Wealth Shift Beyond the U.S. Dollar
Amy Lo, while giving an interview to Bloomberg’s Yvonne Man, emphasized the growing importance of gold. It becomes the popular choice of investors, providing a hedge against geopolitical instability and inflation. Lo stated, “Gold is very popular now,” highlighting a bold leap towards strong alternatives.
Investors, along with gold, now show interest in cryptocurrencies and Chinese assets. One particular reason for choosing these assets is that they mitigate the risks arising from political landscapes and economic pressure. The volatility in the global markets reinforces the demand for a strategic shift.
Cryptocurrencies and Chinese Markets Take Center Stage
Amy Lo emphasized that the clients now aim to explore digital currencies and alternative investments along with precious metal “gold.” She pointed out that cryptocurrencies are now a serious alternative to preserve wealth. It was once considered speculative, but now people are turning towards it.
Chinese assets are also gaining traction, giving investors opportunities to play beyond the Western financial ecosystem. The world is shifting towards power dynamics, and with this, the UBS’s clientele is turning towards a more resilient and diversified future for finance.
