Rich folks across the globe are hunkering down for a doubtlessly turbulent 2020, in response to UBS International Wealth Administration. Bloomberg experiences:

A majority of wealthy traders count on a major drop in markets earlier than the tip of subsequent 12 months, and 25% of their common belongings are at present in money, in response to a survey of greater than 3,400 world respondents. The U.S.-China commerce battle is their high geopolitical concern, whereas the upcoming American presidential election is seen as one other vital risk to portfolios.

“The quickly altering geopolitical surroundings is the most important concern for traders world wide,” stated Paula Polito, shopper technique officer at UBS GWM, in an announcement. “They see world interconnectivity and reverberations of change impacting their portfolios greater than conventional enterprise fundamentals, a marked change from the previous.”

Almost four-fifths of respondents say volatility is prone to enhance, and 55% suppose there will probably be a major market sell-off earlier than the tip of 2020, in response to the report which was performed between August and October and polled these with at the very least $1 million in investable belongings. Sixty % are contemplating growing their money ranges additional, whereas 62% plan to extend diversification throughout asset courses.