Wealthy Asians stick to bonds despite equity boom

Wealthy investors in Asia have retained bond-heavy allocations even as global stock markets have boomed this year, private bankers have told AsianInvestor. This is despite many asset and wealth managers advising clients to shift capital to equities. “We’ve seen some outflows from bonds into equities, but they have not been huge, and the majority of investors are still in fixed income,” Tuan Huynh, chief investment officer and head of wealth discretionary for Asia Pacific at Deutsc…