Global affluent and high-net-worth investors (HNWIs) set their long-term positioning at the start of 2026 with a clear diversification agenda: stay invested for growth through stocks while building resilience with cash-like instruments, bonds, gold, and alternatives to help mitigate market volatility.

These are the findings of the latest HSBC Affluent Investor Snapshot, a survey commissioned by the bank that polled about 10,000 affluent and HNWIs in January 2026 across 10 markets.

Cash allocations almost halved from 33% in 2024 to 19% in 2026, according to the survey. However, many affluent investors have reached a “turning point in their approach to cash”. Nine in 10 investors said they plan to maintain or increase cash allocations this year.

Investment preferences for this year include stocks for growth, with gold, alternatives, and bonds as key diversifiers. International diversification has also gained traction, with nearly half of respondents (47%) indicating a preference for adding non-local investment exposure.

According to the poll, gold is increasingly viewed as a popular allocation rather than a selective hedge, with 52% planning to ramp up investments in the metal in 2026. Interest is lower among baby boomers (43%) than Gen Z, millennials, and Gen X (averaging 54%). Regionally, gold is more popular in Asia and the Middle East (62%) than in the UK, US, and Mexico (averaging 38%).

Stocks remain the “portfolio anchor”, with 66% of respondents intending to hold equities for growth in 2026 across generations worldwide.

Meanwhile, four in 10 affluent investors said they intend to invest in alternative assets in 2026, with Gen Z investors leading this trend (53%). Bonds (43%) and cash-like instruments (26%) were also popular diversifiers, as investors seek resilience.

Finally, international diversification is increasingly part of the core playbook, with nearly half of respondents (47%) indicating a preference for adding non-local investment exposure. However, only one-third (34%) of investors surveyed in the US and mainland China in January said they are considering investment abroad.