According to a study, over 50% of wealthy individuals in Singapore are shifting their investments towards safer assets such as cash and gold. The study reveals that this trend is driven by concerns over the global economic uncertainty caused by the COVID-19 pandemic. The wealthy are seeking to protect their wealth and mitigate risks by opting for more stable and liquid assets. The study also suggests that the wealthy are reducing their exposure to riskier investments like stocks and real estate. This shift in investment strategy reflects a cautious approach in the face of uncertain times.
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