昇世集团亚太区首席投资官陈敬维：亚洲超高净值投资者是如何投资的？

Core Insights - The article discusses the investment strategies and preferences of ultra-high-net-worth (UHNW) investors in Asia, focusing on their cross-border asset allocation and long-term investment outlook [2][3]. Investment Preferences - UHNW investors typically have significant financial resources, with investment thresholds ranging from $20 million to $1 billion, and they prefer global asset allocation with a focus on long-term certainty [2]. - In addition to traditional investments like stocks, bonds, and gold, UHNW investors are increasingly considering alternative investments such as hedge funds, private equity, real estate funds, and infrastructure funds [2]. Investment Philosophy - UHNW investors prioritize long-term asset appreciation over short-term market fluctuations, often looking at investment horizons of 20 to 30 years [3][4]. - The investment strategy emphasizes capturing long-term trends, such as those in gold and AI sectors, while diversifying to mitigate risks [5]. Hedge Fund Preferences - UHNW investors favor hedge funds with strong management capabilities and robust risk control, often opting for multi-strategy hedge funds that provide stable returns with lower market correlation [6][7]. - The expected annual return for these hedge funds is between 10% and 15%, with a focus on minimizing drawdowns [7]. Stock Investment Recommendations - For direct stock investments, UHNW investors are advised to focus on companies within the AI supply chain, such as Nvidia, TSMC, ASML, and Samsung, as these companies are positioned well in the early stages of AI development [8]. - Concerns about high valuations are addressed, with Nvidia's current earnings growth and demand for its products justifying its valuation compared to historical tech bubbles [9]. Real Estate Investment Trusts (REITs) - UHNW investors show a strong preference for Singapore REITs due to their maturity and stability, with annual yields ranging from 4% to 8% [12]. - The Singapore government’s flexible regulatory approach helps attract foreign investment, making its REITs an appealing option for asset allocation [12]. Gold as a Safe Haven - Gold is viewed positively as a long-term investment, with recommendations to increase allocations since April 2024, supported by central bank purchases and its role as an inflation hedge [13]. - The current geopolitical uncertainties further enhance gold's appeal as a safe-haven asset [13]. Currency Outlook - The outlook for the US dollar is negative, with expectations of further declines due to a potential interest rate cut cycle, while other currencies like the euro, yen, and Swiss franc are being monitored for investment opportunities [14].