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CAPITAL MARKETS

AI market round-up: Wealthy dump equity for alts

According to a survey by Tiger 21, a US group for high net-worth investors, the wealthy wouldn’t have been too hard hit by the sharp slide in public equity markets last month as they had already cashed out and moved money to alternative investments. Tiger 21’s 115 members, who have $7 billion in assets, reduced their public equity exposure in 2006 by 30% in anticipation of a correction. They doubled their exposure to alternative assets to 9.5% over the year.

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