Many ultra-wealthy members of the Tiger 21 investment group plan to increase their allocations to cash and private equity in the current quarter, the organization announced Monday.
Tiger 21 comprises some 290 members, who have $30 billion in combined investable assets.
Forty-six percent of members who responded to a September poll said they would increase their allocation to cash, and 44% said they would up their investment in private equity.
A majority of respondents, however, did not indicate specific plans to make material changes in their allocations to currencies, fixed income, public equity, real estate, hedge funds and commodities.
Tiger 21 noted a lack of consensus about which allocations would be reduced to fund the increases to cash and private equity, suggesting, it said, that the reductions would be generally less targeted and on average across the board.
Tiger 21’s founder and chairman Michael Sonnenfeldt said in a statement that the planned increase in cash was related to the increase in private equity.