Here’s Where Asia’s Rich Are Stashing Their Cash as Global Risks Grow

(Bloomberg) — With growing concerns over rising inflation and market volatility, Asia’s wealthy are turning cautious.

People with more than $1 million of investable funds are repositioning toward private markets to shield their assets from market volatility, Lombard Odier’s 2022 study about high net-worth individuals in Asia Pacific found.

They’ve increasingly shunned stocks and bonds to focus on their own companies or assets deemed safer such as gold and cash. At the same time, they’ve largely stayed clear of crypto, which has proved particularly volatile.