Long Angle：2025超高净值投资者投资组合配置基准研究报告（第4版）（英文版）（30页）.pdf

1、2025Fourth Annual Portfolio Allocation Benchmarking StudyInsights from Very High Net Worth InvestorsrtC O N D U C T E D B YP UBL ISHEDF EBRUA RY 2 0 2 5Table of contentsKey InsightsObjectivesPublic EquitiesAlternativesReal EstateBonds&LendingFinancial Products&Estate PlanningRespondent DemographicsA

2、bout Long Angle39111417212428303Key Insights From the ReportThe Role of Advisors:Only one-third of respondents work with an RIA,yet the portfolio composition between those who do and do not work with one is nearly identical.This challenges the assumption that financial advisors significantly alter a

3、sset allocation decisions among high-net-worth investors.Advisors may provide value in time savings,thought partnership,estate planning,tax strategies,or behavioral/emotional support,but their impact on actual portfolio construction appears limited within this group.Limited Role of Debt:More than on

4、e-third of respondents who own a home have no mortgage at all,and the average debt-to-value ratio on primary residences is just 30%.Total debt across all assets remains below 10%of net worth,highlighting a cautious approach to leverage.Equities as a Core,but More Private and Less Public at Higher Ne

5、t Worths:Public equities make up 47%of net worth,but allocations decline as wealth increases,suggesting that ultra-high-net-worth investors seek diversification into alternatives.As investors accumulate more wealth,they hold significantly more wealth in private companies.Bonds Continue to Play a Min

6、imal Role in Member Portfolios:While bonds make up just 5%of net worth on average,their allocation varies based on individual risk profiles.Even among those with lower-risk appetites,bond exposure remains universally below 10%.Crypto Adoption Varies by Age:Crypto allocations remain small overall(4%)