Private banks and wealth managers are abandoning benchmark-driven approaches for flexible, theme-based frameworks as geopolitical shifts and market uncertainty leave conventional portfolio construction behind.
Wealth portfolios are expanding gold positions and targeting emerging market tech supply chains as managers seek returns uncorrelated to US markets amid sustained dollar weakness.
Asia’s exporters and equity markets face mounting pressure as Donald Trump’s campaign pledge to impose sweeping new tariffs - dubbed "Liberation Day" levies - spark warnings from top private banks.