Brookfield Private Wealth | オルタナティブ投資調査レポート

投資家はオルタナティブ投資の運用成果に高い満足感を示し、さらなる活用拡大に意欲的
アドバイザーがオルタナティブ投資の活用拡大の鍵を握る
アドバイザーは、オルタナティブ投資をビジネス成長の原動力と捉え、その取り組みの価値を高く評価

オルタナ投資は投資家ポートフォリオ戦略の中核として定着

顧客の投資目標の達成においてオルタナは不可欠だと回答：69％

オルタナティブ投資に対する顧客の関心は今後さらに高まると回答：76％

オルタナ活用が普及し、ポートフォリオ構築をめぐる顧客との対話が変化

顧客との対話は、「オルタナティブとは何か」から「ポートフォリオ目標達成にあたり最適な投資は何か」へと変化したと回答：73％

オルタナを背景に、ポートフォリオ構築に関する顧客との対話がより充実したと回答：76％

オルタナティブ投資をリードするウェルスマネージャーが増加

パワーユーザーに分類されるウェルスマネージャーの割合（2024年：29％）：40％

オルタナを富裕層顧客のポートフォリオ戦略の中核に位置付けるパワーユーザー：82％

リスク管理と流動性ニーズへの対応が重要なテーマに

マクロ環境の変化を受け、リスク管理とリターン追求の双方において、オルタナを有効な資産クラスとして捉えるようになったと回答：77％

顧客の流動性ニーズを深く理解することが、オルタナティブ投資をより効果的に活用する上で役立っていると回答：80％

オルタナティブの専門性は差別化の重要な要素

オルタナに関する専門性を高めることは顧客基盤の拡大につながると回答：73%

充実したオルタナの提案・サービスを提供できないウェルスマネージャーは、競争上不利な立場に置かれる可能性があると回答：70%

調査方法については、本ページ下部をご覧ください。

オルタナティブ投資調査レポート2.0

オルタナティブ組み入れに関するグローバル調査

オルタナティブ投資の活用拡大やポートフォリオ構築の最新動向、富裕層顧客との対話の変化について、当社独自のグローバル調査で明らかになった主なポイントをご紹介します。

詳しく見る

今日のオルタナティブ投資家を理解する

投資家ポートフォリオにおけるオルタナティブの重要性が増すなかで、オルタナ投資に対する投資家の様々な姿勢、考え、モチベーションを理解することは、金融プロフェッショナルと顧客投資家間における対話をより有意義なものにしてくれます。北米とアジアの富裕層投資家を対象とした調査のセグメンテーション分析からは、典型的な3つの投資家タイプが明らかになりました。

オルタナ先行者

オルタナ新人

トラディショナル派

オルタナ先行者

オルタナ経験者で、組み入れ拡大に積極的

主な特徴

下方リスクよりもアップサイドの可能性に注目する
ポートフォリオ戦略の成功にはオルタナティブが必須だと考えている
既に組み入れているオルタナ投資に加え、より幅広い選択肢を求める

オルタナ先行者とのコミュニケーションにおけるポイント

新たなオルタナティブ投資機会に関する知識とガイダンスを提供する
オルタナのポートフォリオ組み入れに関するメリットに焦点を当てながら、プロダクトや戦略を詳細に説明する
常にオルタナティブ投資トレンドの先端を行く

オルタナ新人

オルタナ投資の拡大に興味あり、深掘りコンテンツを求める

主な特徴

長期的な視点にフォーカスし、全般的にオルタナティブをポジティブに捉えている
妥当な期間内の換金が可能である限り、低流動性投資への抵抗はない
オルタナティブ資産への投資や追加投資に興味を持っており、多くの投資家はポートフォリオの2割まで組み入れることにも前向き

オルタナ新人とのコミュニケーションにおけるポイント

オルタナティブに関する知識を深掘りし、一般的な誤解（非流動性など）を解く
リスク許容度に合致し、流動性懸念の軽減が可能なパブリック／プライベート市場の投資方法を紹介する
投資家が興味を持つオルタナ投資の機会を提供する

トラディショナル派

オルタナ投資に前向き、アドバイザーからの説得力ある提案を望む

主な特徴

インカムと資本保全に注目しつつ、長期的な視点とポートフォリオの成長にフォーカス
オルタナ投資を、ポートフォリオの中核的な資産ではなく分散ツールとして捉えている
オルタナティブには精通しておらず、その組み入れに関してアドバイザーから納得のいく説明があれば投資に前向き

トラディショナル派とのコミュニケーションにおけるポイント

オルタナティブ投資のメリットや、長期ロックアップのない投資機会など拡大するオルタナ投資のユニバースに関するナレッジを提供する
個人の目標や関心に沿ったオルタナ投資を紹介する
少額からスタートし、その成果を確認した後にエクスポージャーを積み増す

オルタナティブ投資調査レポート1.0

オルタナティブに対する投資家とアドバイザーの見方

北米およびアジアのファイナンシャル・アドバイザーと富裕層投資家を対象に実施した詳細なインタビューと、当社独自のアドバイザー・投資家セグメンテーション分析を通じて、オルタナティブ投資に対する認識や行動に関するインサイトをご紹介します。

主要な調査結果とプロファイル：北米投資家

主要な調査結果とプロファイル：アジア投資家

Incorporating Alts Into Your Practice:
Assess Your Approach.

As alternatives become an increasingly important part of high-net-worth investors’ portfolio strategy, advisors can play an important role in helping their clients navigate opportunities ahead. Our research suggests that alternatives expertise can serve as a practice differentiator and support client outcomes.

Thinking about your own experience engaging investors around alternatives, take this quiz and see how your responses stack up to the results of our recent survey of advisors and investors.

QUESTION ONE

How would you describe your knowledge of alternative investments?

Education is key to showing value to investors

90% of alts users say they want their advisor to “stay ahead of the curve” when it comes to new investment opportunities.

Continuing to build your alts expertise is important because our research tells us that the most knowledgeable advisors in alts cite the broadest range of practice benefits rooted in their implementation of alternatives.

“[Strengthening my alternatives expertise]
is an ongoing learning process. It keeps us
fresh. We should be
continuing to assess
the marketplace for
anything that could
benefit the client.”

— U.S. WIREHOUSE-AFFILIATED ADVISOR
WITH $1 BILLION PLUS TEAM AUM

Education is key to showing value to investors

Enhancing your alts expertise is important because as advisors build their alts knowledge, investors become more open to investing in alternatives.

Investors tell us that they’d like advisors to share education on asset classes and investment opportunities that closely align with their interests, and they appreciate it when advisors provide information at the right level of detail.

80%

of advisors say
alts expertise
is a "must have."

Education is key to showing value to investors

As the universe of alternative investment vehicles expands, it’s important to consider that alternatives will be a fit for a broader cohort of investors.

In fact, our research shows that most investors—both current alts users and non-users—want their advisor to talk to them more about alternatives. It’s a step worth taking as building a strong working knowledge of alternatives leads to greater client openness to alts and a smoother path to adoption.

74%

of investors want to learn more about alternatives.

QUESTION TWO

What would you say to a fellow advisor looking to better understand how implementing alternatives might impact their practice?

Select your responses from the below:

A commitment
worth making

As you’ve shared, alternatives can be a strong practice differentiator and this sentiment echoes what we heard from our advisor survey as respondents noted that improved absolute returns, increased client satisfaction and differentiation from competitors are the top benefits of alts implementation.

“We’ve received referrals from clients because they’re talking to their friends about the returns that they got or how the use of alts defended their portfolio.”

— U.S. RIA, ALTS POWER USER,
$750 MILLION-PLUS TEAM AUM

Advisors consider alternatives to be a practice differentiator

While you may have some reservations about the benefits of alts usage, more than 9 in 10 advisors tell us that building a strong working knowledge of alternatives is a commitment worth making.

Advisors also tell us that having alts expertise will be a meaningful driver in growing their business.

“We’ve received referrals from clients because they’re talking to their friends about the returns that they got or how the use of alts defended their portfolio.”

— U.S. RIA, ALTS POWER USER,
$750 MILLION-PLUS TEAM AUM

Advisors consider alternatives to be a practice differentiator

While you may not have seen the benefits of alts implementation yet, advisors tell us that building a strong working knowledge of alternatives is a commitment worth making and that alts expertise will be a meaningful driver in growing their business.

“We’ve received referrals from clients because they’re talking to their friends about the returns that they got or how the use of alts defended their portfolio.”

— U.S. RIA, ALTS POWER USER,
$750 MILLION-PLUS TEAM AUM

QUESTION THREE

Why do you think some clients are less open to investing in alternatives?

Select the top reason from the below:

Advisors have the power to expand clients’ alternative investing footprint

Our research tells us that most high-net-worth investors, including those not using alternatives, are well positioned for alts even if they don’t fully realize it. Investors’ core beliefs and values as evidenced by our survey―a long-term focus, a willingness to ride out volatility and few immediate liquidity needs―point to an ongoing opportunity to broaden the investor base for alts usage.

Encouragingly, 91% of non-users believe diversification is critical to managing risk. The good news is that education goes a long way in addressing any investor concerns and perceived challenges about alternatives and there are many resources available to advisors looking to help their clients better understand the benefits and features of alternatives.

91%

of investors are
willing to ride out an
investment's volatility
in order to achieve
their investment goals
over the long term.

Advisors have the power to expand clients’ alternative investing footprint

While concerns around liquidity do come up, about half of alts users and non-users say they are comfortable sacrificing liquidity for growth. 82% of non-users say that they are comfortable with investments that limit their ability to redeem in order to protect outcomes.

The good news is that education goes a long way in addressing any investor concerns and perceived challenges about alternatives and there are many resources available to advisors looking to help their clients better understand the benefits and features of alternatives.

81%

of HNWI say they're
unlikely to have
short-term cash needs.

Advisors have the power to expand clients’ alternative investing footprint

While many investors may perceive alternatives as expensive, an overwhelming majority of investors using alts tell us that the outcomes alternative investments generate are worth the fees.

79%

of alts users agree
the outcomes are
worth the fees.

Advisors have the power to expand clients’ alternative investing footprint

As investors move beyond the traditional 60/40 portfolio, most HNW investors believe that having an alternatives allocation will drive stronger long-term outcomes than a traditional portfolio.

93%

of alts users are
satisfied with the
performance of
their alternative investments.

QUESTION FOUR

How do you grade yourself on each of the following when it comes to engaging your clients around alternatives?

Please assign a grade A, B, C, D or F.

Alternatives Report Card

Explaining alternatives asset classes

Providing information in the level of detail that clients are looking for

Supplying data and evidence to support the case for the asset class or investment opportunity

Sharing education on assets classes or investment opportunities that closely align with a client’s interests

Staying ahead of the curve when it comes to educating clients about alternative asset classes and investment opportunities

Advisor expertise facilitates investor adoption

You’re doing a great job engaging with clients around alternatives and this is critical because both alts users and non-users say that they want their advisors to talk to them more about alts.

Investors also shared that the top two areas of improvement for advisors regarding alternatives include supplying data to support the case for alternatives and staying ahead of the curve regarding alts opportunities.

“Sharing the numbers
and insights helps me a
lot. Seeing what the (GP
is) thinking, what
they’re up to and what
they’re doing helps
alleviate the unknown.”

— U.S. INVESTOR WITH
$6M INVESTMENT PORTFOLIO

Advisor expertise facilitates investor adoption

It can be challenging to stay ahead of the curve when it comes to alternative investment expertise, but there are plenty of comprehensive resources to help advisors engage with their clients around alternatives.

It’s an effort worth making as investors are really looking to their advisor to guide them through their alts journey. We are committed to serving as a trusted partner to advisors and our new Alts Institute has comprehensive resources to enhance your alts knowledge and expertise.

“The more I learn, the
more I know what I
don’t know, so I do rely
heavily on my planner.”

— U.S. INVESTOR WITH $30 MILLION
INVESTMENT PORTFOLIO

QUESTION FIVE

Using the scale, tell us what percentage of clients you think have either switched or would consider switching advisors in order to access better quality alternatives?

Investors want advisors’ guidance

Many investors say access to new alts opportunities is a priority, signaling that the strength of your alternatives offer is a cornerstone of the advisor-investor relationship.

With such a high bar for investor expectations, we have developed a library of “Essentials” content about different categories of alternatives to help advisors stay informed about the evolving alts marketplace.

41%

of investors said they
have moved or would
consider moving
advisors to access
better alts
opportunities.

Investors want advisors’ guidance

Your instincts are correct. Most advisors say that those without a strong alternatives offering will be left behind so it’s clear that advisors understand how important alts expertise and knowledge is to their clients and to their practice.

41%

of investors said they
have moved or would
consider moving
advisors to access
better alts
opportunities.

Investors want advisors’ guidance

As the universe of alternative investing continues to grow and investors gain access to a wider range of alts investment products, as you have noted, the advisor-client relationship becomes even more critical.

Many investors say access to new alts opportunities is a priority, signaling that the strength of your alternatives offer is a cornerstone of the advisor-investor relationship. With such a high bar for investor expectations, we have developed a library of “Essentials” content about different categories of alternatives to help advisors stay informed about the evolving alts marketplace that can be found on brookfieldoaktree.com.

41%

of investors said they
have moved or would
consider moving
advisors to access
better alts
opportunities.

Keep taking the right
steps to stay ahead
of the curve

Based on your responses, it's clear that you have a solid understanding of using alternatives with your clients. As the alts landscape continues to expand, taking a deep dive into investor insights will help enrich your client conversations and position you as a forward-thinking advisor.

Here are some quick and easy opportunities to expand your expertise:

This investor segmentation revealed distinct investor attitudes and behaviors. Understanding these can help you have even deeper conversations about how alternatives can address their specific concerns, goals, and portfolio strategy.

Explore now

For a more in-depth look into the overall research findings, download “The Power of Alternative Investments: Building Better Portfolios and Stronger Client Relationships.”

Explore now

Reach out to the Brookfield Oaktree Wealth Solutions client team to learn how we can be your partner in growing your alternatives expertise and practice.

Contact the team

Dive deeper into
the benefits of
alternatives

By taking this quiz, you’ve taken steps to learn more about engaging your clients around alternatives. As investor interest in alternatives continues to grow, deepening your alts knowledge with specialized, action-oriented and research-informed resources can help more meaningfully engage clients as you guide them through building a successful portfolio strategy.

Here are some quick and easy opportunities to grow your alts knowledge:

Download “The Power of Alternative Investments: Building Better Portfolios and Stronger Client Relationships” to explore more in-depth high-net-worth investor and advisor perspectives on alternative investing and what it means for engaging with clients.

Explore now

Check out our Demystifying Alternative investments presentation and the accompanying white paper for a deeper dive into the case for using alts and four specific alternatives asset classes.

Explore now

Reach out to the Brookfield Oaktree Wealth Solutions client team to learn how we can be your partner in growing your alternatives expertise and practice.

Contact the team

オルタナ研究所コンテンツ

全般

調査方法

ブルックフィールドは、コアデータ・リサーチ社に調査を委託し、2026年2月から4月にかけてオンライン調査を実施しました。調査対象は、米国、カナダ、英国およびスイスにおいて、平均担当運用資産残高（AUM）が6億5,700万米ドルのウェルスマネージャー600名と、各地域およびグローバルで採用するオルタナティブ資産運用会社・商品の評価を担当するファンド・セレクター60名です。

オルタナティブ投資調査レポートの結果は、調査実施時点における回答者の見解を反映したものであり、すべての投資家の意見を代表するものではありません。また、本資料に記載された内容は、将来の投資成果や投資行動を示唆または保証するものではありません。本資料は、情報提供および教育のみを目的として作成されたものです。

投資にあたっての留意事項

オルタナティブ投資にはリスクが伴い、すべての投資家に適しているわけではありません。オルタナティブ投資は、譲渡制限や流通市場（セカンダリー市場）の不足などにより、流動性が低い場合があります。

オルタナティブ投資を検討する際には、投資目的、投資期間、税務上の影響、およびリスク許容度を十分に考慮する必要があります。また、オルタナティブ投資の運用目標が達成される保証はなく、投資元本の全部または大部分を失う可能性があります。

投資家およびアドバイザーは、個々の投資がポートフォリオ全体の投資目標にどのように貢献するかを十分に理解した上で、伝統的資産にオルタナティブ投資を組み入れる際には、分散投資の考え方を取り入れることが重要です。

オルタナティブ投資調査レポート

オルタナ投資は投資家ポートフォリオ戦略の中核として定着

オルタナ活用が普及し、ポートフォリオ構築をめぐる顧客との対話が変化

オルタナティブ投資をリードするウェルスマネージャーが増加

リスク管理と流動性ニーズへの対応が重要なテーマに

オルタナティブの専門性は差別化の重要な要素

オルタナティブ組み入れに関するグローバル調査

今日のオルタナティブ投資家を理解する

オルタナ先行者

オルタナ経験者で、組み入れ拡大に積極的

主な特徴

オルタナ先行者とのコミュニケーションにおけるポイント

オルタナ新人

オルタナ投資の拡大に興味あり、深掘りコンテンツを求める

主な特徴

オルタナ新人とのコミュニケーションにおけるポイント

トラディショナル派

オルタナ投資に前向き、アドバイザーからの説得力ある提案を望む

主な特徴

トラディショナル派とのコミュニケーションにおけるポイント

オルタナティブに対する投資家とアドバイザーの見方

Incorporating Alts Into Your Practice: Assess Your Approach.

The Alts Conversation: Are you Prepared?

オルタナ研究所コンテンツ

オルタナティブ投資の主な調査結果とプロファイル：北米投資家

オルタナティブ投資の主な調査結果とプロファイル：北米アドバイザー

オルタナティブ投資の主な調査結果とプロファイル：アジア投資家

ポートフォリオ・レンズ：地政学

オルタナティブ投資の主な調査結果とプロファイル：北米投資家

オルタナティブ投資の主な調査結果とプロファイル：北米アドバイザー

オルタナティブ投資の主な調査結果とプロファイル：アジア投資家

ポートフォリオ・レンズ：地政学

Incorporating Alts Into Your Practice:
Assess Your Approach.