Volatility emboldens UAE investors
United Arab Emirates: Wednesday, September 03 - 2008 at 08:57
A new survey has found that wealthy investors in the UAE are most likely to consider switching their fund manager in response to volatility, while many of them consider the current global financial turmoil as an opportunity to diversify their portfolios, reported Gulf News. The report, by Barclays and Economist Intelligence Unit, found that 43% of the high networth respondents from the UAE said they are more likely to increase the level of risk in their portfolios - indicating that they regard the current environment as one of opportunity rather than a hindrance. Also, in a period of increased economic volatility, 48% of respondents from the UAE are likely to switch their fund managers, while wealthy investors from the US (23%) are least likely to select a new manager.
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Jeff Florian, Senior ReporterWednesday, September 03 - 2008 at 08:57 UAE local time (GMT+4)
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