PRIVATE wealth investors are entering 2026 with a more disciplined, opportunity-driven approach to asset allocation—one defined by selective risk-taking, regional differentiation, and broader diversification across asset classes, according to Metropolitan Bank & Trust Co. (Metrobank).
Rather than broad, market-wide positioning, high-net-worth and ultra-high-net-worth clients are increasingly focusing on where risk is best rewarded. Metrobank has observed a clear shift toward Asia and Emerging Markets, where valuations remain more compelling, and earnings prospects appear more resilient compared with developed markets, which continue to face policy uncertainty and elevated expectations.
“Investors are no longer simply chasing returns; they are being far more selective about how and where capital is deployed,” said Ma. Cristina Gabaldon, Metrobank head of investment management. “This has led to more differentiated portfolios that reflect both opportunity and caution.”
Equities remain the primary growth engine for medium-risk private wealth portfolios as these investors maintain overweight positions relative to fixed income. Exposure is increasingly channeled through exchange-traded funds that access global and regional equity allocations, particularly in Asia, where structural themes such as semicon companies benefiting from artificial intelligence and better valuations continue to drive investor interest.
At the same time, investors are adding select fixed-income exposure to improve portfolio resilience through active mutual funds. These mutual funds provide global credit exposure, expertise in duration management, access to agency-backed securities, and other specialized segments. Fixed income exposure acts as a stabilizer in a very volatile market amid expectations that interest rate cycles may turn more supportive later in the year.
A key feature of this disciplined approach is the growing role of alternative assets. Metrobank has seen rising allocations to commodities such as gold and silver, which are increasingly viewed as strategic hedges against geopolitical risks and currency volatility. These assets are commonly accessed through exchange-traded funds, allowing investors to balance protection and liquidity.
Interest in digital assets is also evolving, particularly among younger, investment-savvy ultra-high-net-worth clients. While still tactical in nature, cryptocurrencies and related products are being used to complement traditional assets and provide diversification.
In contrast, appetite for private equity, real estate, and hedge funds remains muted, as higher financing costs continue to weigh on sentiment toward less liquid assets.
Overall, the asset allocation trends point to a more disciplined and opportunity-driven mindset among private wealth investors in 2026, one that emphasizes selective risk-taking, regional differentiation, and diversification across asset classes. Portfolios are becoming more intentional, anchored on equities for growth, supported by selective fixed-income, and complemented by alternatives that enhance risk management.
This shift reflects a more mature investment mindset,” Gabaldon said. “Private wealth investors are building portfolios that are not just positioned for upside, but are also designed to navigate uncertainty in a more fragmented global market.”
As market outcomes become more differentiated, private wealth investors are placing greater value on active advisory, risk and return trade-offs, and access to diversified investment solutions.
Metrobank has a team of wealth experts that supports high-net-worth and ultra-high-net-worth clients with curated global and regional investment strategies, disciplined portfolio construction, and timely market insights aligned with clients’ evolving financial goals.
By combining deep local market expertise with global investment access, Metrobank continues to help clients navigate uncertainty, capture long-term opportunities, and build resilient portfolios in a rapidly changing investment landscape. Get valuable research and information from our team of financial experts to help you make informed investment decision, visit Wealth Insights (www.wealthinsights.ph) for market updates, portfolio advice, and investment ideas and insights.
