Singapore family office cuts emerging Asia exposure

Singapore-headquartered single-family office KMXK Investment has turned bearish on emerging Asia, slashing its allocation from what its portfolio manager, Qihang Tan, describes as a “model allocation” of around 30% to less than 5% of its portfolio. Even Vietnam, which Tan said was one of the most promising emerging Asian markets, has been targeted by KMXK for reductions in the family office’s allocation. “Vietnam, in particular, is one place where we’ve been cutting our allocati…