The 2020 US election is less than a week away. According to a survey by global wealth manager UBS, 72 percent of investors globally and 87 percent in the UAE are considering a shift in their holdings prior to the vote. Also, 78 percent plan to make further changes based on the result.
According to the UBS quarterly Investor Sentiment survey, which polled more than 4,000 investors and business owners across 14 markets globally in late September and early October, 72 percent of investors are considering a shift in their holdings prior to the vote. Sixty-two percent are planning to make additional changes based on the result.
Ali Janoudi, Head of Middle East and Africa at UBS Global Wealth Management, said: “The US elections are a global event with repercussions across the globe, including in the Middle East. UAE investors are watching closely and the vast majority consider portfolio changes both ahead and after the elections, depending on results. Clearly there is strong demand for investment advice.”
While 68 percent are optimistic about the region’s stocks on a short-term basis (over the next six months), investors prioritize yield in their portfolios with 61 percent aiming to get more yield in the next six months and 30 percent looking to reduce the level of risk in their portfolio.
UAE based respondents would consider investing in 5G networks, hedge funds and a green recovery over the next six months, the survey said.
Among the respondents, 83 percent consider the UAE as an attractive region for investment opportunities followed by the US (68 percent) and Europe (68 percent).
For its Sentiment Survey, UBS surveyed 2,852 investors and 1,150 business owners with at least $1 million in investable assets (for investors) or at least $1 million in annual revenue and at least one employee other than themselves (for business owners), from September 22 to October 12, 2020.
(Reporting by Seban Scaria; editing by Daniel Luiz)
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