UBS says its ultra wealthy clients are moving out of stocks to invest in more illiquid areas.
Stadler said:"They bought a billion-plus of those equities to rebalance. And they made a lot of money."The world's largest wealth manager said its ultra wealthy clients are now done with equities and are looking at less liquid areas to invest in., the world's largest private bank, also known as a"fortress bank of billionaires" said during the slump in stock markets some of the bank's richest clients took loans to invest billions in stock markets.
UBS said its richest clients who are managed by family offices may invest in residential real estate, private equity, to name a few.
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