Pulse of the rich

An investment outlook on the markets, and what wealthy investors are really thinking.

Large piles of cash still sitting on the sidelines are one reason UBS Wealth Management’s CIO Mark Haefele thinks the US stockmarket still has upside. A poll of 1,200 wealthy UBS clients across the globe revealed that two-thirds agreed global equities would be the best-performing asset class over the next six months. Despite that bullish call, however, a quarter of the respondents still had the largest portion of their portfolio in cash, as much as 30% in some cases.

Haefele says that if investor confidence improves, a portion of this idle cash will get redeployed in the stockmarket, driving prices higher. He thinks US equities will return around 7% or 8% this year.

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