Core Insights - The UBS Billionaire Report indicates that by 2025, the number of billionaires will rise to 2,919, with a total wealth of $15.8 trillion, marking a 13% increase [1] - The Asia-Pacific region leads in billionaire growth, with the number of billionaires increasing from 981 to 1,036, and China adding 70 new billionaires, totaling 470, second only to the U.S. [1] - Billionaires are increasingly optimistic about investment opportunities in the Greater China region, with 34% believing it offers the best prospects, a significant rise from 11% in 2024 [1][3] Group 1: Wealth Growth and Composition - In 2025, 196 self-made billionaires added $3,865 billion in wealth, second only to 2021's 360 billionaires [2] - The Asia-Pacific region has the highest proportion of self-made billionaires at 79% [2] - The total wealth of Chinese billionaires reached $1.8 trillion, a 22.2% year-on-year increase, with 98% being self-made entrepreneurs [2] Group 2: Investment Trends - North America remains the preferred investment destination, but its attractiveness has decreased, with only 63% of billionaires seeing it as the best opportunity, down from 80% [3] - 40% of billionaires now favor Western Europe for investment opportunities, surpassing Greater China (34%) and other Asia-Pacific regions (33%) [3] - 42% plan to increase exposure to emerging market stocks, while 43% intend to invest more in developed market stocks [3] Group 3: Concerns and Challenges - Billionaires express concerns about tariffs (66%), geopolitical conflicts (63%), and policy uncertainty (59%) [4] - In the Asia-Pacific region, 75% worry about tariffs, while 70% in the Americas are concerned about inflation or geopolitical conflicts [4] - 75% of billionaires believe that the younger generation will face significant global challenges, particularly in technology and artificial intelligence [4]

格隆汇12月9日｜摩根大通策略师表示，明年新兴市场股票的表现可能会优于发达市场，因为它们的估 值仍然较低，而且应该会受益于较低的仓位以及美元稳定或走弱。"我们确实认为，经过多年的持续表 现落后，新兴市场明年将连续第二年跑赢发达市场，" 驻伦敦的全球及欧洲股票策略主管Mislav Matejka 在新闻发布会上表示。 ...

格隆汇12月9日｜摩根大通：新兴市场将受益于美元走弱或持稳。预计2026年新兴市场股市表现将优于 发达市场。中国人工智能股票比美国同业的价格更优惠。 ...

格隆汇12月4日｜根据Momentum Investments的说法，由于具有吸引力的估值和强劲的利润，南非股市 将在2026年受益于新兴市场的广泛上涨。资产配置主管Herman van Papendorp表示，基本面的改善、预 期的美元走弱以及在特朗普政府下多元化资金流入的结合，可能导致2026年出现"实质性"资金流入。 Papendorp表示，美元走弱和盈利前景改善将使新兴市场股票在2026年继续领先于发达市场同行。在通 胀压力上升的背景下，美联储的降息以及对非常独立性的威胁，可能会在明年推动美元走弱。 Papendorp表示，在本地，南非联合政府的瓦解仍然是关键威胁。 ...