IMHO - simplify to "i dunno the future for sure" is the best "hedge"
ie. holistic portfolio approach
eg.
a. 1/3 in Fixed income, 1/3 in Biz equities and/or own biz +1/3 in properties/real estate equities
or
b. Golden butterfly portfolio - google it
or
c. Ray Dalio All Season Portfolio
or
d. simplest 60/40 Equities/Bonds traditional bogglehead or similar

personally - i account for my EPF/CPF, FDs, etc. +Equities +Gold +trading a/c in the categories above.
and rebalance when needed
coz it's not what the market does, it's how my balance is "lost"
and
i rebalance to "sell high, buy low" -eg sell cash/gold to buy REITs during March, coz my equities % went far south when compared to my gold & fixed income %.

maybe it works for me coz i'm too lazy and learned that watching the market is.. another job +so what? ie. what can i do even if i watch the market like mad XD
different strokes, different folks but that buy high, sell low = sure die sooner or later

heeh usually, answering such Q "what to do with my UT investment via EPF",
doesnt really fit the real needs or problem - like using a small plaster on a gaping wound or broken bone,
thus i dont think i responded to that
BUT
i responded to your thoughts on possibility of hedging when X or Y happens, which most probably will result in :buy high,sell low" coz been there, done that - meh.. XD

1 more very important one missing - keep costs low XD
*typo edited.. urgh.. i need more caffeine

This post has been edited by wongmunkeong: Feb 15 2021, 06:23 PM