Ultra Rich Wanted More China Exposure Before Trade War, UBS Says

Many of the world’s richest family offices were planning to ramp up their investments in China despite the looming threat of a global trade war, according to a survey of UBS Group AG clients.

The report - which based its findings on 317 family offices with an average of $1.1 billion in assets under management - showed that over a third of clans in the Middle East planned to increase their exposure to mainland China, as did 39% from the Asia-Pacific region. On average globally, 18% wanted to do so.

There was one notable exception: US family offices, who made ...