Put your money on hybrids, says UBS chief

With few corporate bond issues available, hybrid securities may stand out in what is set to be a slower year for equities.

Australian investors could do worse than invest in hybrid issues next year, given the relative absence of a corporate bond market here, according to Alexander Friedman, global chief investment officer of UBS Wealth Management.

The Zurich-based executive is forecasting much lower returns from equities, both globally and locally, next year as global markets adjust to the much touted "taper" in quantitative easing.

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