Wealthy families pile into bonds, private equity while shedding stocks

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NEW YORK, Sept 12 - Wealthy families loaded up on bonds and private equity investments in the first half of the year while slashing their stock exposure, according to a survey by Citigroup's private bank.

"Family offices are focused on high-quality companies in traditional industries, with positive cash flows," Hannes Hofmann, who runs the global family office group at Citi Private Bank, said in an interview.

 

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