Morningstar survey shows asset owners lift U.S. asset exposure despite policy concerns
MORN•AI, inflation and ESG remain key portfolio themes
- Top AI-related portfolio risks flagged: valuation and capex pressure at 73%, market concentration at 65%, and mega-cap provider dependence at 63%.
- Inflation ranked the leading global investment issue at 76%, followed by the generative AI landscape at 71%.
- ESG integration in North America rose to 43% from 37%, while Europe fell to 43% from 48%.
Survey shows higher U.S. exposure and continued private market growth
- Morningstar survey shows asset owners raised U.S. exposure, with 31% increasing allocations versus 24% cutting, reversing 2025’s net reduction.
- Private markets allocation is seen rising to 23% of AUM within five years from 19%, led by Europe targeting 25%.
