Axa Affin Life ups cash over muddying market outlook
The move is due to nagging trade war concerns and emerging market vulnerabilities, the JV's CFO says. US politics and possible US rate pause, though, give others cause for optimism.
Uncertain financial market and economic growth conditions have prompted Axa Affin Life Insurance to adopt a more defensive investment stance as it approaches 2019, its chief financial officer has said.
“Given our cautious outlook, where possible, we have raised our cash allocation in some of our funds but remain convinced of the [economic] fundamentals,” Kelvin Wong Wei Win told AsianInvestor.
However, he did not specifically state to what degree cash allocations had been increa…
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