保德信：市场不确定性加剧 资产配置者青睐固定收益及现金配置

Group 1: Fixed Income and Cash Allocation - Global asset allocators plan to increase allocations to fixed income and cash in response to ongoing economic uncertainty and market volatility [1][2] - Over 60% of Asian fund managers intend to increase holdings in government and investment-grade bonds, while the appeal of equities is declining [1] - 43% of global fund managers expect higher returns from fixed income, with 37% planning to increase allocations during the anticipated rate-cutting cycle [1] Group 2: Risk Appetite and Alternative Investments - There is a divide in risk appetite among fund managers, with 32% planning to increase risk exposure and 40% expecting to reduce it [2] - Despite a slowdown compared to the previous year, demand for alternative investments like private equity and private credit remains strong, with a net 22% of fund managers planning to increase allocations to private credit [2] - In Asia, over two-thirds of fund managers prefer direct and co-investments in private markets, reflecting a desire for greater control in a cautious market environment [2] Group 3: Equity Market Sentiment - Global asset allocators are less optimistic about equities compared to fixed income, with 45% expecting public equity returns to decline over the next 12 months [3] - Despite this, 34% of allocators plan to increase public equity allocations, with a focus on global equity strategies [3] - 73% of Asian fund managers anticipate increasing allocations to artificial intelligence, indicating strong investment demand in transformative technology sectors [3] Group 4: Real Estate Preferences - More than half of asset allocators expect no change in their real estate allocation over the next 12 months, with 20% intending to increase their allocations [4] - Asian fund managers favor investments in industrial and logistics facilities, as well as senior housing, while 62% see data centers as attractive investment opportunities [4] - The research reflects a contradictory viewpoint among asset allocators, who recognize the need to address rising risks but are not retreating, instead adjusting strategies to navigate prolonged uncertainty [4]