Fears of a potential recession are weighing on the minds of the super-rich, and their advisors are responding with a shift toward more defensive holdings, such as high-quality, short-duration fixed income, according to a survey of family offices conducted by UBS. The wealth manager surveyed 230 family offices with an average net worth of $2.2 billion, and heard that ultrarich clients aren’t only worried about a recession, but also express concerns about inflation and geopolitical turmoil.
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