Real Assets Study 2024

In late 2023, Aviva Investors polled 500 investors from around the world with a combined AUM of US$3.8 trillion, including pension funds, insurers and global financial institutions, on their appetite for real assets.

In the wake of central banks’ aggressive rate-hiking cycle, uncertainty clouds the macroeconomic outlook. And while demand for real assets among large institutions remains robust, the principal drivers behind their allocations are beginning to shift.

In the sixth edition of our award-winning Real Assets Study, we explore these institutions’ views on key investment risks, their preferred strategies, and how they are seeking to deliver on sustainability commitments. 

Senior decision makers

We questioned senior decision makers at 500 global institutional investors in Europe, North America and Asia Pacific.

Combined AUM (USD)

Respondents had combined assets under management of US$3.8 trillion.

To increase real assets allocation

Almost two-thirds (64%) plan to increase their allocations to real assets in the next two years. 

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The sixth edition of the Aviva Investors Real Assets Study is our biggest yet. At a time of macroeconomic uncertainty, real assets continue to play a significant role in the investment strategies of global institutions. This year’s survey seeks to answer some key questions: How is the higher interest-rate environment affecting appetite for real assets? What are institutions’ return expectations across strategies? And how do views on sustainability differ between regions?

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Analysis by client type

  • Defined contribution pensions in focus

    Decision makers at defined-contribution pension schemes share their views on asset allocation, sustainability and risk in their real asset investments.

  • Defined-benefit pension schemes in focus

    Decision makers at defined-benefit pension schemes share their views on asset allocation, sustainability and risk in their real asset investments.

  • Insurers in focus

    We take a deep dive into the views of global insurance companies on real assets, covering strategies, return expectations, key risks and sustainability.

  • Global financial institutions in focus

    Decision makers at global financial institutions share their views on asset allocation, sustainability and risk in their real asset investments.

  • Public sector pensions in focus

    Decision makers at government and other public-sector pension schemes share their views on asset allocation, sustainability and risk in their real asset investments.

Strategies in focus

Real estate

Outcome-oriented solutions in real estate, across equity debt and long income, through strategies that span the risk spectrum, from lower-risk options generating long-term income to more opportunistic investments.

Find out more  about Real estate

Infrastructure

Our deep market access allows us to source high-quality projects, delivered through a range of debt and equity opportunities. We focus on stable, long-term income generation and efficient execution.  

Find out more  about Infrastructure

Private debt

We finance bespoke structured finance and senior private corporate debt transactions, seeking to meet a range of client outcomes.

Find out more  about Private debt

Real assets multi-asset

Our integrated real asset platform allows us to collaborate with our clients to design bespoke multi-asset portfolios that meet a wide variety of long-term investment and return objectives.

Find out more  about Real assets multi-asset

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