DBS survey finds affluent investors broaden portfolios and embrace AI

DBS Hong Kong's latest survey found affluent investors are lowering return expectations, diversifying portfolios and increasingly using artificial intelligence (AI) alongside advisers to support long-term wealth planning.

DBS Hong Kong released the “DBS Treasures Affluent Investor Survey 2026”, revealing affluent investors are recalibrating return expectations while continuing to pursue long-term wealth growth through broader portfolio diversification, international market exposure and growing use of AI in investment research and decision-making.

Affluent investors in Hong Kong and Chinese Mainland remain cautious about market prospects, but optimistic about long-term wealth creation opportunities despite an uncertain economic environment. Expected annual returns among Hong Kong investors eased to 7.9% from 8.4% in 2025, while expectations among Chinese Mainland fell to 8.1% from 10.1%. At the same time, long-term wealth growth has become a more important objective for investors, with 66% of them naming it as their most important wealth goal, up from 57% a year ago.

As they navigate an evolving market environment, affluent investors in Hong Kong and Chinese Mainland are increasingly broadening their portfolios. Stocks remained the largest portfolio holding in 2026, rising 1.8 percentage points year-on-year to 41%, while alternative investments recorded the strongest growth, increasing 10.3 percentage points to become the second-largest asset class at 18% of portfolios. Allocations to exchange-traded funds (ETFs) also increased, while exposure to investment and mutual funds declined, reflecting investors’ growing preference for a broader mix of asset classes.

The growing emphasis on portfolio diversification is reflected in the broader range of investment products held by affluent investors. On average, investors hold 4.5 product types, with Chinese Mainland investors recording a notable increase from 3.9 to 4.5 product types. Investment preferences also vary across markets, with Chinese Mainland showing a stronger preference for insurance products, while Hong Kong investors continue to favour stocks. Across both markets, stocks, insurance, gold, foreign currency and investment funds remain the five most widely held investment products.

Amy Kwan, head of business planning, customer segment and ecosystem, consumer banking group and wealth management at DBS Hong Kong said, “The survey shows that affluent investors remain invested and opportunity seeking despite ongoing market volatility. While they continue to pursue wealth growth, they are increasingly balancing this with greater diversification and risk management. We are also seeing AI become an important tool to support investment research and decision-making, while investors continue to value professional advice from relationship manager for more complex wealth planning needs.”

While both Hong Kong and Chinese Mainland investors increased allocations to alternative assets, their investment preferences diverged. Hong Kong showed a stronger shift towards stocks, while Chinese Mainland investors were more inclined to increase ETF holdings. Looking ahead, Chinese Mainland investors are most likely to expand exposure to gold and virtual assets, whereas Hong Kong investors continue to favour, stocks and commodities.

AI and technological innovation, yield-generating assets and healthcare emerged as attractive investment themes among affluent investors. Investors are increasingly turning to AI tools to better understand investment products, monitor market developments and compare risks and potential returns. Despite this growing adoption, investors value the human touch and professional advice from relationship managers, particularly for major investment decisions, retirement and long-term wealth management, and cross-border wealth needs.

The survey also highlights Hong Kong’s continued competitiveness as an international wealth management centre. 63% of affluent Chinese Mainland already hold an account in Hong Kong. Hong Kong’s diverse investment product offerings, strong financial system, quality wealth management advice and cross-border banking connectivity remain key attractions for investors, underlining the growing importance of international connectivity. Nearly three in four investors have exposure to overseas markets, with Hong Kong serving as the leading offshore investment destination for Chinese Mainland investors.

The DBS Treasures Affluent Investor Survey 2026, conducted between June and July 2026, surveyed 1,617 affluent individuals across Hong Kong and Chinese Mainland, with a minimum of RMB 1 million ($147,700) in assets in their respective markets.

Re-disseminated by Wealth and Society