Private wealth investors are heading into 2026 with a more disciplined and opportunity-driven approach to asset allocation, according to Metropolitan Bank & Trust Co. (Metrobank). Instead of taking broad market bets, investors are becoming more selective about where they take risks and how they diversify their portfolios.
Metrobank said high-net-worth and ultra-high-net-worth clients are increasingly looking to Asia and emerging markets, where valuations are more attractive and earnings prospects appear stronger than in developed markets, which continue to face policy uncertainty.
Equities remain the main source of growth for medium-risk portfolios, with investors keeping higher exposure to stocks than to fixed income. Much of this exposure is being done through exchange-traded funds, particularly those focused on Asia, where themes such as artificial intelligence and semiconductor growth are drawing interest.
At the same time, investors are adding selective fixed-income investments through actively managed mutual funds. These are used to help stabilize portfolios amid market volatility and in anticipation of more supportive interest rate conditions later in the year.
Alternative assets are also playing a bigger role.
Metrobank noted rising allocations to commodities like gold and silver, which investors see as protection against geopolitical risks and currency swings. Interest in digital assets is growing as well, especially among younger and more experienced ultra-high-net-worth investors, though these remain tactical rather than core holdings.
In contrast, demand for less liquid investments such as private equity, real estate, and hedge funds remains subdued due to higher financing costs.
Overall, Metrobank said the trend reflects a more mature investment mindset. Portfolios are being built with clear roles for each asset class—equities for growth, fixed income for stability, and alternatives for risk management—aimed at navigating a more uncertain and fragmented global market.
As market conditions become more uneven, investors are also placing greater value on active advice, careful risk management, and access to diversified investment solutions, Metrobank added.
