Trillions wiped off world's wealth

Tuesday 31 March 2009 at 06:26

Over $40 trillion has disappeared from global household wealth since the height of the property and equity markets, according to new research from UBS.

The report, authored by Andreas Höfert, global head wealth management research, Walter Edelmann, head global investment strategy, and Kurt Reiman, head of thematic research, was particularly bearish on the global economy and predicts further falls in global wealth.