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Hedge Fund Boosts Cash on Growing Risk of U.S.-China Armed Clash

  • Singapore’s APS sees tensions rising before November election
  • Regional skirmish more likely than full-blown war, Wong says

As investors grapple with the relentless rise in global coronavirus cases, one Singaporean hedge fund is preparing for another dire event -- the possibility of an armed clash between the U.S. and China.

In the lead-up to November’s U.S. presidential election, APS Asset Management Pte. is increasing allocations to the relative safety of cash, along with stocks that would weather an outbreak of hostilities, said founder and Chief Investment Officer Kok Hoi Wong.