Metrobank sees more selective, diversified investors

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February 11, 2026 | 12:00am

MANILA, Philippines — Private wealth investors are expected to enter 2026 with a more disciplined and opportunity-driven approach to asset allocation, marked by selective risk-taking, regional differentiation and broader diversification, according to Metropolitan Bank & Trust Co.

Metrobank said high-net-worth and ultra-high-net-worth clients are moving away from broad market positioning and are instead focusing on areas where risk is more appropriately rewarded.

This has translated into growing allocations toward Asia and emerging markets, where valuations remain more attractive and earnings prospects appear more resilient compared with developed markets that continue to grapple with 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,” Ma. Cristina Gabaldon, head of investment management at Metrobank, said. “This has led to more differentiated portfolios that reflect both opportunity and caution.”

Equities continue to serve as the primary growth engine for medium-risk private wealth portfolios, with investors maintaining overweight positions relative to fixed income.

Metrobank noted that equity exposure is increasingly being accessed through exchange-traded funds, particularly those offering global and regional allocations in Asia.

Structural themes, including semiconductor companies benefiting from artificial intelligence and more compelling valuations, are sustaining investor interest in the region.

At the same time, clients are selectively increasing fixed-income exposure to improve portfolio resilience. These allocations are largely being channeled through actively managed mutual funds that provide access to global credit, duration management expertise, agency-backed securities and other specialized segments.

According to Metrobank, fixed income is being positioned as a stabilizer amid heightened market volatility and expectations that interest rate cycles could become more supportive later in the year.

Alternative assets are also playing a larger role in portfolio construction.

The listed bank has observed rising allocations to commodities such as gold and silver. These exposures are typically accessed through exchange-traded funds, allowing clients to balance protection with liquidity.

Interest in digital assets is likewise evolving, particularly among younger and more investment-savvy ultra-high-net-worth clients. While still tactical in nature, cryptocurrencies and related products are being used to complement traditional assets and enhance diversification.

In contrast, appetite for private equity, real estate and hedge funds remains muted, as elevated financing costs continue to weigh on sentiment toward less liquid investments.

“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 increasingly differentiated, the bank added that clients are placing greater value on active advisory, clearer risk and return trade-offs and access to diversified investment solutions as they position portfolios for long-term resilience.