UBS: High-net-worth clients are withdrawing from dollar assets and turning to cryptocurrencies, Chinese assets, and gold

2025-05-14 13:35:13

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ChainCatcher news, according to Caixin, Amy Lo, co-head of Asia Wealth Management at UBS Group, stated that UBS's high-net-worth clients are increasingly withdrawing from dollar assets and turning to gold, cryptocurrencies, and Chinese assets. "Gold is very popular right now," Lo said in an interview with Yvonne Man at the Bloomberg New Voices event held in Hong Kong on Tuesday.

She pointed out that the tense trade relations between China and the U.S. have prompted investors to start diversifying their previously "quite U.S.-centric" asset allocations; in addition to seeking other currency assets, investors are also directing more funds into cryptocurrencies, commodities, and alternative assets. "Volatility will definitely continue," Lo added.

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