Group 1 - The traditional relationship between asset classes is being disrupted by geopolitical events, inflation, and concentrated market leadership, leading to a shift in asset allocation decisions [1][2] - Geopolitical factors are now more influential than economic factors in shaping portfolio decisions, with security risks and energy supply disruptions taking precedence over GDP growth [2] - The escalation in the Middle East has negatively impacted fixed-income investments, which are traditionally seen as a safe haven, as rising oil prices revive inflationary pressures and push bond yields higher [3][4] Group 2 - In the equities market, capital appreciation remains the primary driver for high-net-worth (HNW) equity allocations, but there is growing concern over the concentration of returns in large-cap technology stocks [5] - The simultaneous sell-off of equities and bonds due to inflation concerns highlights the challenges of diversification in the current market environment [5] - Precious metals, particularly gold, are experiencing increased demand as safe-haven assets amid inflation and geopolitical uncertainty, with HNW allocations to commodities reaching 11.1% [7][8]