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Investment expertise

Asset allocation

Asset allocation

According to the investment outlook, we put together an asset allocation that takes into account the latest macroeconomic updates, specific risk profiles and reference currencies. Our most recent global macroeconomic views, asset-class outlook and asset allocation grids are published on a monthly basis.


  • GLOBAL TACTICAL ASSET ALLOCATION - Diversification is key to cushioning our portfolios from rising market volatility
  • UBP ECONOMIC OUTLOOK - Strong growth in developed countries
  • UBP ECONOMIC OUTLOOK - More budgetary support but less accommodative monetary policy
  • GLOBAL EQUITIES - Overweight Japan and emerging markets
  • GLOBAL BONDS - Emerging market bonds remain preferred in richly priced fixed income markets
  • GLOBAL PORTFOLIO POSITIONING - Slightly overweight risk through EM debt and equities as well as Japanese equities
  • RECENT PORTFOLIO CHANGES - Diversifying further with emerging local currency bonds and Japanese yen

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Asset Allocation

February 2018

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