GSAM interviewed 343 CIO/CFOs about their views on everything ranging from the economy, asset allocations, return expectations, portfolio construction and industry capitalization.

Some highlights as they relate to asset management and private markets:

– Globally, 51% of respondents expect to increase their private asset allocation (Asia 61%, Americas 55%), with another 43% maintaining the current percentages.

– Asset classes with the expected highest total returns in the next 12 months include private equity, private equity secondaries, emerging markets equities, private corporate debt and US Equities.

– Asset classes with the expected lowest total returns in the next 12 months include cryptocurrencies (by a wide margin), real estate equity, commodities.

– Highest increase in allocation in the next 12 months included private corporate debt, impact bonds, US IG corporates, PE, infrastructure equity & debt.