At this point, the CIO prefers bonds to cash due to their 5% yield, which provides consistent cashflows into a portfolio.
Looking back at its calls for 1Q2024, DBS’s chief investment officer (CIO), Hou Wey Fook, noted that the portfolio’s favourites, technology, artificial intelligence (AI) and quiet luxury, scored “hefty gains”. Gold, too, was a strong performer within the DBS CIO portfolio.
In 2Q2024, Hou recommends investors remain invested in the market and deploy excess cash into multi-asset portfolios. With the US expected to conduct rate cuts, Hou sees a soft landing in the country in his base case scenario, which is “constructive” for both bonds and equities.
