World's Richest Remain Cautious on Equities Amid Populist Surge
- Deutsche Bank wealth management CIO says stocks look expensive
- Deutsche’s Nolting says wealthiest keeping cash on sidelines
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Rich investors are shunning equities because of concerns about the political impact from Donald Trump’s administration and Brexit, according to Christian Nolting, chief investment officer at Deutsche Bank AG’s wealth management unit.
“People are still cautious; there is still demand for bonds and people are not ready to move into the more risky equity space,” Nolting said in an interview in Dubai. The perception “is that there are a lot of risks out there and a lot of uncertainty.”