Skip to content
Subscriber Only

Asia's Rich Advised to Buy Yen as BOJ's Negative Rates Backfire

  • `All existing drivers still point to more yen strength': Heng
  • Vulpes family office plans to add to hotel assets in Japan
Bloomberg business news

Would Negative Rates Help Or Hinder the Economy?

Updated on

Money managers for Asia’s wealthy families are favoring the yen as it benefits from the turmoil in global financial markets.

Credit Suisse Group AG is advising its private-banking clients to buy the yen against the euro or South Korean won because the Japanese currency remains undervalued versus the dollar. Stamford Management Pte, which oversees $250 million for Asia’s rich, told clients the yen is set to strengthen to 110 against the greenback as soon as the end of this month. Singapore-based Stephen Diggle, who runs Vulpes Investment Management, plans to add to assets in Japan where the family office already owns hotels and part of a nightclub in a ski resort.