{"id":1654186,"date":"2022-09-23T02:52:29","date_gmt":"2022-09-23T06:52:29","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1654186"},"modified":"2022-09-23T02:52:38","modified_gmt":"2022-09-23T06:52:38","slug":"swiss-bank-ubp-returns-to-chinese-markets","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/swiss-bank-ubp-returns-to-chinese-markets\/","title":{"rendered":"Swiss bank UBP returns to Chinese markets"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fswiss-bank-ubp-returns-to-chinese-markets%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1654186&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Summer Zhen<\/p>\n<p>HONG KONG (Reuters) \u2013     Swiss private bank Union Bancaire Priv\u00e9e (UBP) is back in  Chinese markets, its chief investment officer said, making its way back to the world\u2019s second-largest economy after withdrawing last year.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>UBP has more than $150 billion of assets. It returned to China in August after having exited all positions in mainland equities and credit in the third quarter of 2021, Norman Villamin, CIO of wealth management, told Reuters.<\/p>\n<p>\u201cWe went from zero to neutral,\u201d Villamin said. <\/p>\n<p>While many institutional investors have reduced exposure to China since 2019 amid a regulatory crackdown on tech giants, a deterioration in Sino-U.S. relations and strict zero-COVID policies, UBP is among the few that is re-allocating to the country.<\/p>\n<p>Villamin said UBP saw some \u201chope\u201d that there would be more stimulus measures ahead of and after the Communist Party Congress in October. <\/p>\n<p>\u201cIf some of the COVID restrictions start to ease, even if it is gradual, at least we\u2019re moving in the right direction,\u201d Villamin said.<\/p>\n<p>UBP deemed an underweight exposure in China \u201ctactically risky\u201d, he added. <\/p>\n<p>\u201cChina has gone through a recession, while Europe is in the midst of recession, and the U.S. is likely entering a recession in 2023,\u201d Villamin said.<\/p>\n<p>UBP has however only bought China A-shares, which is the domestic sector, and is avoiding companies that might have exposure to geopolitical issues.<\/p>\n<p>Chinese markets have been facing unprecedented challenges this year, with both the CSI 300 index and Hang Seng Index down over 20% each, while hedge funds that invest in Greater China are seeing their biggest net fund outflows in at least 15 years.<\/p>\n<p>UBP believes China is slowly poised to recover although it will not be a smooth sailing. Some deep-seated problems, such as the real estate debt crisis, will take a long time to resolve.<\/p>\n<p>\u201cWe think (China\u2019s) objective on property is to shrink the sector as a share of the overall economy to wind down the amount of leverage in the sector,\u201d said Villamin. <\/p>\n<p>\u201cWe don\u2019t see a lot of growth opportunities there.\u201d<\/p>\n<p> (Reporting by Summer Zhen; Editing by Stephen Coates)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/swiss-bank-ubp-returns\/attachment\/union-bancaire-privee-sign-is-seen-in-zurich\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8M05F-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8M05F-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Summer Zhen HONG KONG (Reuters) \u2013 Swiss private bank Union Bancaire Priv\u00e9e (UBP) is back in Chinese markets, its chief investment officer said, making its way back to the<\/p>\n","protected":false},"author":66,"featured_media":1889154,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1654186","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_finder_url":"https:\/\/www.oann.com\/business\/swiss-bank-ubp-returns\/?utm_source=rss&utm_medium=rss&utm_campaign=swiss-bank-ubp-returns","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1654186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1654186"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1654186\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1889154"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1654186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1654186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1654186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}