Weighing US-China trade risk.
Amid rising trade tensions between the US and China and a likely increase in market volatility as the Trump administration presses ahead with Chinese tariffs, we remain overweight global equities. In this month's Macro Monthly, Erin Browne, Head of Asset Allocation, Investment Solutions, explains why.
Please read these terms and conditions carefully before proceeding. By utilizing the website and pages thereof located at www.ubs.com/am-hk ("website"), you acknowledge that you have read these terms as well as the global terms of use (collectively "terms") and that you agree to be bound by them. If you do not agree to all of the terms of this agreement, you are not an authorized user of these services and you should not use this website.
The materials on this Website are distributed by UBS Asset Management (Hong Kong) Limited, which is licensed by the Securities and Futures Commission (" SFC") [CE Number AGP568] in the Hong Kong Special Administrative Region of the People's Republic of China (" Hong Kong") pursuant to the Securities and Futures Ordinance (Cap 571). UBS Asset Management (Hong Kong) Limited is a part of the Asset Management business division of UBS Group AG. UBS Asset Management (Hong Kong) Limited together with UBS Group AG and its group companies shall collectively be referred to as " UBS". The material contained in this Website has not been reviewed by the SFC or any regulatory authority in Hong Kong.
The information contained in this Website has been prepared and is intended for general circulation. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The investment services or products referred to in this Website may not be suitable for all investors. UBS recommends that you independently evaluate particular investments and strategies and seek independent advice from a financial adviser regarding the suitability of such investment products, taking into account your specific investment objectives, financial situation and particular needs, before making a commitment to purchase any investment products.
The information contained in this Website is not an offer to buy or sell or the solicitation of an offer to buy or sell any investment product or to participate in any particular trading strategy.
UBS, its officers and/or employees may have interests in any of the investment products referred to on this Website by acting in various roles. UBS, its officers and/or employees may receive fees, commissions or other benefits for acting in those capacities. In addition, UBS, its officers and/or employees may buy or sell investment products as principal or agent and may effect transactions which are not consistent with the information set out in this Website.
You fully understand and agree that, by making available this Website, UBS should not be construed as making: (a) any endorsement of any investment product referred to in this website; (b) any representation that UBS has performed any due diligence on any investment product referred to in this Website; or (c) any representation that the information in this Website is complete, accurate, clear, fair and not misleading. The use or reliance on any such information contained in this Website is at your own risk and any losses which may be suffered as a result of you entering into any investment are for your account and UBS shall not be liable for any losses arising from or incurred by you in connection therewith. UBS is not responsible or liable for the accuracy and completeness of any such information or the performance or outcome of any investment made by you after receipt of such information, irrespective of whether such information was provided at your request.
Using, copying, redistributing or republishing any part of this Website without prior written permission from UBS is prohibited. Any statements made regarding investment performance objectives, risk and/or return targets shall not constitute a representation or warranty that such objectives or expectations will be achieved or risks are fully disclosed. The information and opinions contained in this Website is based upon information obtained from sources believed to be reliable and in good faith but no responsibility is accepted for any misrepresentation, errors or omissions. All such information and opinions are subject to change without notice. A number of comments in this website are based on current expectations and are considered “forward-looking statements”. Actual future results may prove to be different from expectations and any unforeseen risk or event may arise in the future. The opinions expressed are a reflection of UBS' judgment at the time this document is compiled and any obligation to update or alter forward-looking statements as a result of new information, future events, or otherwise is disclaimed.
Investment involves risks. You should be aware that investments may increase or decrease in value and that past performance is not indicative of future performance. The information in this Website does not constitute advice and does not take into consideration your investment objectives, legal, financial or tax situation or particular needs in any other respect. You will conduct your own evaluation and consult with your own legal, business and tax advisors to determine the appropriateness and consequences of any investment and you will make any investment pursuant to an independent evaluation and analysis of the consequences of the same in reliance only upon your own judgment and not in reliance upon this website. Potential for profit is accompanied by possibility of loss. You may wish to seek advice from a financial adviser regarding the suitability of the Funds before making a commitment to purchase units or shares in the Funds. In the event you choose not to do so, you should consider whether the Fund is suitable for you. UBS does not hold out any of its officers and/or employees as having any authority to advise you, and UBS does not purport to advise you on any investment product. Any investment will be made at your sole risk and UBS is not and shall not, in any manner, be liable or responsible for the consequences of any investment. Please contact UBS Asset Management (Hong Kong) Limited or our appointed distributors for more information on how to subscribe for units or shares in the Funds.
Without prejudice to the foregoing or to the provisions of the Global Terms of Use, this Website and its contents are provided on an “as is” and “as available” basis. UBS does not warrant: (a) the accuracy, timeliness, adequacy commercial value or completeness of this Website or its contents, and expressly disclaims any liability for errors, delays or omissions in the contents, or for any action taken in reliance on the contents; (b) that your use of and/or access to this Website or its contents, will be uninterrupted, timely, secure or free from errors or that any identified defect will be corrected; (c) that this website or any content will meet your requirements or are free from any virus or other malicious, destructive or corrupting code, agent, program or macros; (d) that any information, instructions or communications posted or transmitted by you through this website is secure and cannot be accessed by unauthorised third parties; and (e) that use of the contents in this Website by you will not infringe the rights of any third parties. No warranty of any kind, implied, express or statutory, including but not limited to the warranties of non-infringement of third party rights, title, merchantability, satisfactory quality or fitness for a particular purpose and freedom from computer virus or other malicious, destructive or corrupting code, agent, program or macros, is given in conjunction with this Website.
You hereby agree to indemnify UBS and any of its officers, employees or agents against, and to keep UBS and any of its officers, employees or agents harmless from, any claims (actual and threatened), settlement sums, liability, loss, damages, costs (including solicitor and client costs and expenses (legal or otherwise), charges, expenses, actions, proceedings, whether foreseeable or not which we may sustain, suffer or incur, directly or indirectly out of or in the course of or in connection with any the following: (a) any use of this Website or the contents by you, or any part thereof; (b) UBS having made available the Website; (c) any breach of these Terms by you, however arising; or (d) any negligence, act or omission, wilful default, unlawful act, fraud and/or misconduct on your part or violation of any rights of another person or entity by you.
The funds referred to in this Website are authorized by the SFC for sale to the public in Hong Kong (the “ Funds”). UBS Asset Management (Hong Kong) Limited is the appointed Hong Kong Representative of the Funds. SFC authorization is not a recommendation or endorsement of the Funds nor does it guarantee the commercial merit or performance of the Funds. It does not mean that the Funds are suitable for all investors nor is it an endorsement of its suitability for any particular investor or class of investors.
Investment involves risks, and past performance figures shown are not indicative of future performance. The value of the funds and income from them can go up as well as down and consequently you may not get back the amount originally invested. Investors please refer to the offering document for further details including the risk factors.
The investment returns of some of our range of funds are denominated in currency other than USD/HKD. US/HK Dollar-based investors are therefore exposed to fluctuations in the US/HK dollar/ foreign currency exchange rate.
Units of UBS funds mentioned in this publication may not be offered, sold or delivered in the USA.
This website and its contents have not been reviewed by, delivered to or registered with any regulatory or other relevant authority in APAC. This website is for informational purposes and should not be construed as an offer or invitation to the public, direct or indirect, to buy or sell securities. This website is intended for limited distribution and only to the extent permitted under applicable laws in your jurisdiction. No representations are made with respect to the eligibility of any viewers of this website to acquire interests in securities under the laws of your jurisdiction. Using, copying, redistributing or republishing any part of this website without prior written permission from UBS Asset Management is prohibited. Any statements made regarding investment performance objectives, risk and/or return targets shall not constitute a representation or warranty that such objectives or expectations will be achieved or risks are fully disclosed. The information and opinions contained in this website is based upon information obtained from sources believed to be reliable and in good faith but no responsibility is accepted for any misrepresentation, errors or omissions. All such information and opinions are subject to change without notice. A number of comments in this website are based on current expectations and are considered “forward-looking statements”. Actual future results may prove to be different from expectations and any unforeseen risk or event may arise in the future. The opinions expressed are a reflection of UBS Asset Management’s judgment at the time this website is compiled and any obligation to update or alter forward-looking statements as a result of new information, future events, or otherwise is disclaimed. You are advised to exercise caution in relation to this website. The information in this website does not constitute advice and does not take into consideration your investment objectives, legal, financial or tax situation or particular needs in any other respect. Investors should be aware that past performance of investment is not necessarily indicative of future performance. Potential for profit is accompanied by possibility of loss. If you are in any doubt about any of the contents of this website, you should obtain independent professional advice.
The products, services, information and/or materials contained within these web pages may not be available for residents of certain jurisdictions. Please consult the sales restrictions relating to the products or services in question for further information.
The website has not been reviewed by the Securities and Futures Commission in Hong Kong. The website is issued by UBS Asset Management (Hong Kong) Limited.
© UBS 1998 - 2022. All rights reserved.
You may not assign your rights under these Terms without our prior written consent. UBS Asset Management (Hong Kong) Limited may assign our rights under these Terms to any third party.
No person or entity who is not a party to these Terms shall have any right under the Contracts (Rights of Third Parties) Ordinance (Cap. 623) of Hong Kong or other similar laws to enforce any term of these Terms regardless of whether such person or entity has been identified by name, as a member of a class or as answering a particular description. For the avoidance of doubt, this shall not affect the rights of any permitted assignee or transferee of these Terms.
These Terms shall be governed by, and shall be construed in accordance with, the laws of Hong Kong. The courts of Hong Kong shall have exclusive jurisdiction to hear and determine any suit, action or proceeding, and to settle any disputes, which may arise out of or in connection with these Terms and, for such purposes, you agree to submit to the jurisdiction of the courts of Hong Kong. Each party hereby waives any objection which it might at any time have to the courts of Hong Kong being nominated as the forum to hear and determine any proceedings and to settle any disputes and agrees not to claim that the courts of Singapore are not a convenient or appropriate forum.
© UBS 2022 - the key symbol and UBS are among the registered and unregistered trademarks of UBS. All rights reserved.
This website uses cookies to make sure you get the best experience on our website. You can find more information under the Privacy Statement. You are free to change your cookies' settings in the privacy settings.
Go to privacy settings
