Most investors mull portfolio changes ahead of US election, UBS survey shows
Economy called top election issue by 84% of investors
Survey split on which candidate would handle it better
By Tatiana Bautzer
NEW YORK, Sept 26 (Reuters) -Most wealthy investors are considering changes in their portfolios ahead of the Nov. 5 U.S. presidential election, according to a survey by UBS UBSG.S released on Thursday. As investors focus on the economic policies of the candidates, 77% of them are considering new allocations, the survey found.
The economy is seen as the most important issue in the election by 84% of investors, and they are split on which candidate would better handle it. Fifty one percent of wealth clients surveyed said Republican candidate Donald Trump would handle the economy better, while 49% said Democratic candidate Kamala Harris would do better.
The respondents who said Trump would handle the economy better cited the former president's approach to taxes, lower business regulations and immigration policy. The group favoring Harris on the economy cited the vice president's policies for the middle class, healthcare, green energy and preservation of the independence of the U.S. Federal Reserve.
Healthcare, materials, sustainable investing and technology companies could benefit from potential Harris policies, according to most investors surveyed. The industries that would benefit more from a new Trump presidency would be defense, energy and industrials, they said.
Jason Katz, senior portfolio manager at UBS Global Wealth Management, said an increase in investors seeking guidance for their portfolios is common in all election cycles, but the bank is recommending a cautious approach.
"We advise against any drastic changes, either in investment or tax management," Katz said.
Historically, the U.S. equity market has shown similar returns regardless of which party wins the White House.
The economic outcomes will depend not only on which candidate wins the presidency, but also on the composition of Congress, according to Katz. Democrats currently control the Senate and Republicans have a majority in the House of Representatives.
A new Trump presidency could add to inflation by adopting import tariffs, while less regulation would create incentives to M&A transactions, with the biggest beneficiaries being financials and fossil fuel industries, Katz said.
If Harris wins with no Democratic control of Congress, potential tax hikes could be more difficult to approve, Katz added.
Katz said he expects regulation to remain stringent in a Harris administration, a circumstance that would affect mainly financials and fossil fuel companies. On the other hand, Katz said, companies focused on renewable energy and some industrial and material companies could benefit from her potential policies.
Reporting by Tatiana Bautzer; Editing by Will Dunham
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Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
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