Singapore - The Asia-Pacific wealth market is still posing healthy growth estimated at 11 per cent annually, a UBS executive said in published remarks on Monday.
UBS, the world's largest manager of private wealth, is seeing positive inflows of funds despite the subdued economic mood, said Raoul Weil, the Swiss giant's global wealth management chairman.
Clients are more cautious, he acknowledged.
"They are taking a much more conservative allocation, decreasing their focus to equities," The Straits Times quoted Weil as saying. "But they are not putting on the brakes."