Principles for Alternative Investing
Explore our key principles to help investors understand alternative investments and how they can impact portfolios.
"Private markets offer a broad opportunity set which is helpful for investors looking for diverse sources of growth"
Key Takeaways
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AI is driving investment across public and private markets
- Technology makes up 47% of the S&P 500 and 36% of private equity
- Private credit and real estate finance AI infrastructure like data centers
- Multiple asset classes may share exposure to the same technology theme
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Higher interest rates are reshaping investment strategies
- Fed hikes raise financing costs for acquisitions and property development
- Floating-rate credit income rises, but borrowers face more pressure
- Managers must create value without relying on cheap debt
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Real estate and infrastructure face new trends and risks
- Real estate is gradually recovering, with in-person sales and manufacturing demand rising
- Data centers need private capital and present unique risks
- Infrastructure opportunities go beyond AI, including power and network upgrades
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Manager selection is key in private markets performance
- Alternatives offer innovation, income and growth, but require careful selection
- Wide performance spread exists between top and bottom private managers
- Attractive themes like AI don’t guarantee strong outcomes for all investors
Dive deeper into Alternatives
Use three Guide to Alternatives slides to support client conversations on the opportunities across alternatives, direct real estate, private equity and infrastructure.
Alternatives
Solving for alpha, income and diversification.
Direct Real Estate
Finding diversification and stable income.
Private Equity
Accessing alpha opportunities not available in the public markets.
Infrastructure
Finding diversification and stable income.
Frequently asked questions
The Guide to Alternatives is a global, slide-based publication from J.P. Morgan Asset Management, that provides educational, market-focused content on alternative investments. It covers topics such as alternatives in portfolios, real estate, other real assets, private equity, private credit and hedge funds. The Guide is intended to help financial professionals and investors better understand alternative investments and support client conversations.
The Guide is translated into four languages across 42 countries. The charts draw on the firm's own research alongside reputable third-party data providers spanning market indices and industry research. Each slide includes its source in the footnotes.
The Guide is refreshed each quarter by the Market Insights Strategy team at J.P. Morgan Asset Management. The team revises the pages and charts to reflect on market themes, industry trends and new developments, ensuring the Guide remains timely and relevant for financial professionals and investors.
The Guide is designed to help financial professionals navigate alternative investments by presenting key themes and trends into clear, objective, data-driven charts. It can provide a common factual foundation for framing conversations, grounding portfolio and investment decisions, illustrating how alternatives can fit into portfolios and educating clients, committees and boards.
The Guide is produced by the Market Insights Strategy team at J.P. Morgan Asset Management, led by Dr. David Kelly, Chief Global Strategist. Key contributors include Aaron Mulvihill, Global Alternative Strategist in the Americas; Grant Papa, Research Analyst in the Americas; Aaron Hussein, Global Market Strategist in EMEA; Kerry Craig, Global Market Strategist in APAC; Adrian Wong, Research Analyst in APAC.
Yes. The Guide is built to be a shared reference across advisory and institutional settings. Users may use individual slides in presentations or written materials provided the slides are not altered, J.P. Morgan Asset Management branding remains intact, the firm is credited and the relevant disclosure pages included with the Guide are also included. Use is subject to applicable policies, approvals and local regulations and users should always reference the most current quarterly edition when sharing.
Yes. The Guide to Alternatives is made available to financial professionals at no cost through J.P. Morgan Asset Management's website and Insights app, where users can view it online and download the full Guide for free. Certain interactive features and more detailed materials may require a login so content can be tailored appropriately.
The Guide to Alternatives is available online through J.P. Morgan Asset Management's Market Insights hub, where users can view the full interactive slide book or download the complete Guide. It is also accessible through the J.P. Morgan Asset Management’s Insights app for on-the-go access. Companion publications — the flagship Guide to the Markets including regional editions and topic-focused guides such as Guide to Retirement and Guide to ETFs — are available through the broader J.P. Morgan Asset Management Insights program.
For additional information on alternative investments, visit the Alternative Insights hub.