World's richest families fret about geopolitics, climate change

LONDON - The world's richest families are worried about the U.S.-China trade spat, Brexit, populism and climate change and are keeping more of their money in cash, according to a survey of family offices by the world's largest wealth manager.

Total cash reserves were 7.6% of family office investments in 2019, up 70 basis points from a year earlier. "Family offices are taking a dim view of geopolitical events," Sara Ferrari, head of UBS’ Global Family Office Group, told Reuters. Family offices' views did not necessarily differ from those of institutional investors - pension funds, insurers and sovereign wealth funds - or of the asset managers who help invest their money, Ferrari said.

Energy Energy Latest News, Energy Energy Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

British PM Boris Johnson heads to UN, urging world to look beyond BrexitLONDON (AP) - British Prime Minister Boris Johnson headed for the United Nations in New York on Sunday (Sept 22) to argue that post-Brexit Britain will be a dynamic world power taking the lead on tackling climate change and an unstable Middle East. But he and his country face some big hurdles.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »