A bank employee gathers Thai baht notes at a Kasikornbank in Bangkok, Thailand, May 12 2016. Cash holdings rose to about 25% of financial assets in the second quarter, from 21% in the 2016 survey. Despite the shift to cash, Asia’s rich remained heavily invested in equities, with the proportion also rising to a five-year high of 28%, the survey said. The rise in equities and cash holdings came at the expense of investments in alternative assets such as structured products, hedge funds and property. Total wealth rose 8.2% to $18.8 trillion, with Indonesia and Thailand recording the fastest expansion, compared with 9.9% growth the previous year.

Source: Bangkok Post November 06, 2017 05:03 UTC