Asian Ultra-Wealthy Investors Combine Gold and Cryptos in Diversified Portfolios

Ultra-wealthy investors in Asia are increasingly combining investments in traditional assets like gold and real estate with digital assets and cryptocurrencies, according to Maybank Singapore CEO Alvin Lee.

Lee noted that individuals with ultra-high net worth are considering financial instruments and physical assets at the same time. He pointed out that the rise in gold prices is evidence of its role as a store of value, with an ounce of gold currently worth about $4,400, below record levels but still significantly above historical levels.

Goldman Sachs has projected that by the end of the year, the metal's price could reach $4,900 per ounce amid purchases by central banks. Lee also stated that wealthy clients are becoming more open to new asset classes, including digital assets and cryptocurrencies, with the younger generation showing the greatest interest in such instruments.

The Maybank Singapore CEO linked this trend to wealthy families' focus on transferring capital from older generations to younger ones. He noted that Singapore will retain its appeal for offshore capital due to its status as a safe haven, stable government, intellectual property protection, and tax jurisdiction.