Drawing on our 2024 Global Wealth Managers Survey, this report analyzes HNW asset allocation strategies in 19 key markets. In particular, it examines the drivers behind investment choices now and over the next 12 months.
After a strong market performance in 2024, 2025 has proven to be a challenging year for investment providers, with geopolitical instability and economic uncertainty dominating the global agenda. Markets had managed to weather the prolonged impacts of the Russia-Ukraine war and unrest in the Middle East following Israel's ongoing war with Gaza. However, the US election of Donald Trump, coupled with the resulting trade tensions, has sparked economic upheaval, pushing global equity markets into bear territory. As a result, investors are shifting toward safe-haven assets, and overall wealth growth is expected to slow. Still, those in higher wealth brackets are better positioned to navigate long-term volatility.
After a strong market performance in 2024, 2025 has proven to be a challenging year for investment providers, with geopolitical instability and economic uncertainty dominating the global agenda. Markets had managed to weather the prolonged impacts of the Russia-Ukraine war and unrest in the Middle East following Israel's ongoing war with Gaza. However, the US election of Donald Trump, coupled with the resulting trade tensions, has sparked economic upheaval, pushing global equity markets into bear territory. As a result, investors are shifting toward safe-haven assets, and overall wealth growth is expected to slow. Still, those in higher wealth brackets are better positioned to navigate long-term volatility.
Scope
- Retail investment holdings growth is forecast to moderate to a CAGR of 3.6% between 2024 and 2029, down from 8.3% between 2019 and 2024.
- 23% of HNW investors allocate the largest component of their onshore wealth to equities, followed by bonds and cash and near-cash products with 18.8% and 18.6%, respectively.
- Market volatility is driving demand for fund products; in 2016, HNW investors allocated 58% of their equity portfolio to funds; by 2024, this proportion had risen to 66%.
Reasons to Buy
- Learn how economic concerns and resulting market upheaval have affected investment behavior.
- Understand investment trends and adjust your service proposition based on a detailed understanding of the investment preferences across different wealth tiers.
- Understand how to best promote investment products by learning what is driving investment choices.
- Learn how and why investment preferences will change over the next 12 months.
- Understand the effect that increased volatility can have on investor behavior and how to minimize the risk of customers changing providers.
- Give your marketing strategies the edge required and capture new clients using insights from our data on HNW investment drivers.
Table of Contents
1. Executive Summary2. Investment Environment Dynamics and Outlook
3. Retail Investment Preference Context
4. HNW Asset Allocation Preferences and Drivers
5. Investment Product Trends
6. Key Takeaways
7. Appendix
