Northern Trust Peer Study: A Look into the Evolving Priorities of Global Asset Owners
Northern Trust (NTRS) has released its 'Asset Owners in Focus: Global Asset Owner Peer Study 2025' based on a survey of 180 global institutional investors with portfolios ranging from $1B to $500B+. The study reveals current portfolio allocations average 42% in equities, 27% in fixed income, and 13% in private markets, with 86% of portfolios having private asset exposure.
Key findings show that 60% of asset owners consider liquidity increasingly important, maintaining average cash allocations of 11%. Among private market investors, 21% have exposure to cryptocurrencies and digital assets. The most outsourced functions include document management and regulatory reporting (49% each), trade execution (45%), and performance analytics (45%).
The study highlights regional differences, with EMEA and APAC allocating less to equities and more to cash compared to US counterparts. Asset owners are prioritizing technology investments in portfolio analytics (51%) and compliance reporting (48%), while focusing on risk management, particularly liquidity risk, cited as a top-three concern by 54% of respondents.
Northern Trust (NTRS) ha pubblicato il suo studio 'Asset Owners in Focus: Global Asset Owner Peer Study 2025', basato su un sondaggio di 180 investitori istituzionali globali con portafogli che variano da 1 miliardo a oltre 500 miliardi di dollari. Lo studio rivela che le attuali allocazioni di portafoglio sono in media 42% in azioni, 27% in reddito fisso e 13% in mercati privati, con l'86% dei portafogli che presenta un'esposizione ad asset privati.
I risultati chiave mostrano che il 60% dei proprietari di asset considera la liquidità sempre più importante, mantenendo una media di allocazioni in contante dell'11%. Tra gli investitori nei mercati privati, il 21% ha un'esposizione a criptovalute e asset digitali. Le funzioni più esternalizzate includono la gestione dei documenti e la reportistica normativa (49% ciascuna), l'esecuzione degli scambi (45%) e l'analisi delle performance (45%).
Lo studio evidenzia differenze regionali, con EMEA e APAC che allocano meno in azioni e più in contante rispetto ai colleghi statunitensi. I proprietari di asset stanno dando priorità agli investimenti in tecnologia per l'analisi dei portafogli (51%) e la reportistica di conformità (48%), mentre si concentrano sulla gestione del rischio, in particolare il rischio di liquidità, citato come una delle tre principali preoccupazioni dal 54% degli intervistati.
Northern Trust (NTRS) ha publicado su estudio 'Asset Owners in Focus: Global Asset Owner Peer Study 2025', basado en una encuesta a 180 inversores institucionales globales con carteras que van desde 1 mil millones hasta más de 500 mil millones de dólares. El estudio revela que las asignaciones actuales de la cartera promedian 42% en acciones, 27% en renta fija y 13% en mercados privados, con el 86% de las carteras teniendo exposición a activos privados.
Los hallazgos clave muestran que el 60% de los propietarios de activos consideran que la liquidez es cada vez más importante, manteniendo asignaciones de efectivo promedio del 11%. Entre los inversores de mercados privados, el 21% tiene exposición a criptomonedas y activos digitales. Las funciones más externalizadas incluyen la gestión de documentos y la presentación de informes regulatorios (49% cada una), ejecución de operaciones (45%) y análisis de rendimiento (45%).
El estudio destaca las diferencias regionales, con EMEA y APAC asignando menos a acciones y más a efectivo en comparación con sus contrapartes de EE. UU. Los propietarios de activos están priorizando las inversiones en tecnología para el análisis de carteras (51%) y la presentación de informes de cumplimiento (48%), mientras se centran en la gestión de riesgos, particularmente el riesgo de liquidez, citado como una de las tres principales preocupaciones por el 54% de los encuestados.
노던 트러스트(NTRS)는 1억 달러에서 500억 달러 이상의 포트폴리오를 가진 180명의 글로벌 기관 투자자를 대상으로 한 설문조사를 기반으로 한 '자산 소유자 포커스: 글로벌 자산 소유자 동료 연구 2025'를 발표했습니다. 이 연구는 현재 포트폴리오 배분이 평균 42% 주식, 27% 채권, 13% 사모 시장으로 나타났으며, 86%의 포트폴리오가 사모 자산에 노출되어 있음을 보여줍니다.
주요 발견 사항은 60%의 자산 소유자가 유동성을 점점 더 중요하게 생각하며 평균 11%의 현금 배분을 유지하고 있다는 것입니다. 사모 시장 투자자 중 21%는 암호화폐 및 디지털 자산에 노출되어 있습니다. 가장 많이 외주화된 기능은 문서 관리 및 규제 보고(각각 49%), 거래 실행(45%) 및 성과 분석(45%)입니다.
이 연구는 EMEA 및 APAC 지역이 미국의 동료들에 비해 주식에 대한 배분이 적고 현금에 대한 배분이 많다는 지역적 차이를 강조합니다. 자산 소유자들은 포트폴리오 분석(51%) 및 준수 보고(48%)에 대한 기술 투자에 우선순위를 두고 있으며, 리스크 관리, 특히 유동성 리스크에 집중하고 있으며, 이는 응답자의 54%가 세 가지 주요 우려 사항 중 하나로 언급했습니다.
Northern Trust (NTRS) a publié son étude 'Asset Owners in Focus: Global Asset Owner Peer Study 2025', basée sur une enquête auprès de 180 investisseurs institutionnels mondiaux dont les portefeuilles varient de 1 milliard à plus de 500 milliards de dollars. L'étude révèle que les allocations de portefeuille actuelles s'élèvent en moyenne à 42% en actions, 27% en obligations et 13% en marchés privés, avec 86% des portefeuilles ayant une exposition aux actifs privés.
Les principales conclusions montrent que 60% des propriétaires d'actifs considèrent la liquidité comme de plus en plus importante, maintenant des allocations de liquidités moyennes de 11%. Parmi les investisseurs en marchés privés, 21% ont une exposition aux cryptomonnaies et aux actifs numériques. Les fonctions les plus externalisées incluent la gestion des documents et la reporting réglementaire (49% chacune), l'exécution des transactions (45%) et l'analyse de la performance (45%).
L'étude met en évidence des différences régionales, avec l'EMEA et l'APAC allouant moins aux actions et plus à la liquidité par rapport à leurs homologues américains. Les propriétaires d'actifs priorisent les investissements technologiques dans l'analyse des portefeuilles (51%) et la reporting de conformité (48%), tout en se concentrant sur la gestion des risques, en particulier le risque de liquidité, cité comme une préoccupation majeure par 54% des répondants.
Northern Trust (NTRS) hat seine Studie 'Asset Owners in Focus: Global Asset Owner Peer Study 2025' veröffentlicht, die auf einer Umfrage unter 180 globalen institutionellen Investoren basiert, deren Portfolios von 1 Milliarde bis über 500 Milliarden Dollar reichen. Die Studie zeigt, dass die aktuellen Portfolioallokationen im Durchschnitt 42% in Aktien, 27% in festverzinslichen Wertpapieren und 13% in privaten Märkten betragen, wobei 86% der Portfolios eine Exposition gegenüber privaten Vermögenswerten aufweisen.
Wesentliche Erkenntnisse zeigen, dass 60% der Vermögensinhaber Liquidität zunehmend als wichtig erachten und durchschnittliche Bargeldallokationen von 11% aufrechterhalten. Unter den Investoren in privaten Märkten haben 21% eine Exposition gegenüber Kryptowährungen und digitalen Vermögenswerten. Die am häufigsten ausgelagerten Funktionen sind Dokumentenmanagement und regulatorische Berichterstattung (jeweils 49%), Handelsausführung (45%) und Leistungsanalytik (45%).
Die Studie hebt regionale Unterschiede hervor, wobei EMEA und APAC im Vergleich zu ihren US-Kollegen weniger in Aktien und mehr in Bargeld investieren. Vermögensinhaber priorisieren Investitionen in Technologie für Portfolioanalysen (51%) und Compliance-Berichterstattung (48%), während sie sich auf Risikomanagement konzentrieren, insbesondere auf Liquiditätsrisiken, die von 54% der Befragten als eines der drei Hauptanliegen genannt werden.
- Large-scale study covering 180 institutional investors with significant AUM ($1B-$500B+)
- High adoption of private market investments (86% of portfolios)
- Strong focus on technological advancement and operational efficiency
- Diversified investment approach with balanced portfolio allocations
- Increased concerns about liquidity risk (top-three concern for 54% of respondents)
- Challenges with interest rate changes and geopolitical instability
- Operational complexities requiring significant outsourcing (up to 49% for key functions)
Growing focus on alternative investments, liquidity and risk management, technology and operational efficiency seen in global survey of 180 institutional plans
Based on a survey of 180 global asset owners, with investment portfolios ranging from
The survey revealed that while asset owners on average continue to favor equities (
“Today’s asset owners maintain sophisticated portfolios in a time marked by economic and geopolitical uncertainty – and must execute their investment strategies while efficiently managing costs and navigating the regulatory environment,” said Melanie Pickett, head of Asset Servicing,
The survey gathered responses from senior leaders of pension funds, OCIOs and multi-managers, family offices, sovereign wealth funds, endowments, and other institution types across the
Asset Allocation
-
The vast majority (
86% ) of respondents invest in private markets, while68% invest in hedge funds, absolute return investments and other diversifiers. - Private debt is now a mainstay in many institutional portfolios, with commercial real estate, private credit and direct lending, and residential real estate the most popular sectors.
-
Cryptocurrencies and other digital assets are invested in by
21% of those that allocate to private markets.
Risk Management
- Interest rate changes, geopolitical and domestic political instability are top external investment challenges, followed by investment fees and the effects of climate change.
-
Liquidity risk is the most important risk metric, ranked as a top-three concern by
54% of respondents.
Technology, Operations and Outsourcing
- Asset owners are focused on efficiencies and automation, hiring and retaining talent, and harnessing the power of artificial intelligence.
-
For those with outsourced investment operations, the most outsourced functions are document management and regulatory reporting (both outsourced by
49% ), trade execution (45% ), performance and analytics reporting (45% ), and accounting administration for alternative investments (45% ).
The study indicates some regional differences among asset owners, with EMEA and APAC allocating lower amounts to equities and more to cash than their
“Asset owners in EMEA are increasingly recognizing the value of technology in addressing both operational and investment risk,” said James Wright, head of Asset Owners, EMEA at Northern Trust. “The trends we’re seeing in EMEA align closely with the survey findings, particularly around the growing importance of technology and enhanced risk management. As regulatory pressures rise and the need for more robust data management grows, asset owners are looking to strengthen their decision-making capabilities and adapt to evolving regulatory landscapes. This shift is reflected in how asset owners are integrating technology to optimize operations and manage risk more effectively.”
Asset owners are particularly focused on portfolio analytics tools (
“In APAC, asset owners are relying on outsourcing and technology adoption to drive operational efficiency,” said Angelo Calvitto, head of
Further survey details and commentary from our experts will be available on A-Suite by Northern Trust, a community in which asset allocators can learn, collaborate, and move the needle on issues that matter most to them.
For many decades, Northern Trust has been dedicated and steadfast in serving the asset owner segment. The goal within the asset owner segment is to empower the missions of its clients, helping them to maximize investment returns so that they may then serve their constituents, their communities and the world.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in
Northern Trust Corporation, Head Office: 50 South La Salle Street,
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Source: Northern Trust
FAQ
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