Julius Baer suggests holding more cash
The wealth manager expects difficult times ahead for equities and recommends cutting back in this asset class, particularly in Asia ex-Japan, Brazil and Russia.
Julius Baer Holdings, Switzerland's leading independent wealth manager, has turned more cautious on equities amid the persistent high volatility in markets worldwide and the lingering uncertainty over global economic growth.
Earlier this month, Julius Baer trimmed its recommended net long equities position to 29%, reflecting a long position of 36% and a short position of 7%. ThatÆs a significantly more conservative stance compared with a recommended net long position of 35% in May, resulting from a long position of 42%...
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