Metrobank sees private wealth investors turning choosier in 2026
Private wealth investors are heading into 2026 with a more disciplined and opportunity-driven approach to asset allocation, as selective risk-taking and diversification take precedence over broad market bets, according to Metropolitan Bank & Trust Co. (Metrobank).
In a recent note, Metrobank said high-net-worth and ultra-high-net-worth clients are becoming more deliberate about where risk is best rewarded. This, amid uneven global growth and persistent policy uncertainty in developed markets.
The Ty family-led bank observed a growing preference for Asia and other emerging markets, where valuations are seen as more attractive and earnings prospects more resilient.
“Investors are no longer simply chasing returns. They are far more selective about how and where capital is deployed,” said Ma. Cristina Gabaldon, Metrobank head of investment management.
Gabaldon said portfolios are becoming increasingly differentiated to balance opportunity with caution.
Equities remain the primary growth driver for medium-risk private wealth portfolios. Investors are maintaining overweight positions versus fixed income.
Exposure is increasingly accessed through exchange-traded funds, particularly those providing global and regional equity allocations.
Asia continues to draw interest, supported by structural themes, such as semiconductor companies benefiting from artificial intelligence and relatively better valuations.
Against this backdrop, Metrobank said investors are selectively adding fixed-income exposure to enhance portfolio resilience.
These allocations are largely made through active mutual funds that provide global credit exposure, duration management expertise and access to agency-backed securities and other specialized segments.
Fixed income, the bank noted, serves as a stabilizer amid volatile markets and expectations of a more supportive interest-rate environment later in the year.
Alternative assets are also playing a bigger role. Allocations to commodities, such as gold and silver, are rising, as these are increasingly viewed as strategic hedges against geopolitical risks and currency volatility.
Interest in digital assets is likewise evolving, particularly among younger, investment-savvy ultra-high-net-worth clients, although exposure remains tactical.
In contrast, appetite for private equity, real estate and hedge funds remains muted due to higher financing costs and concerns over liquidity.
Overall, Metrobank said the trend reflects a more mature investment mindset, with portfolios anchored on equities for growth, supported by selective fixed income and complemented by alternatives for risk management.
