State Street Institutional
Investor Indicators
Investment insights based on facts, not surveys

The State Street Institutional Investor Indicators provide investors, policymakers, and the public with insights into the aggregated and anonymized positioning, risk appetite, and portfolio carbon exposures of thousands of institutional investors around the world, representing trillions of dollars in assets.

State Street Institutional Investor
Holdings Indicator

The Holdings Indicator tracks the aggregated portfolio holdings of institutional investors across stocks, bonds, and cash in percentage terms.

Key Facts
  • The Institutional Investor Holdings Indicator measures the broad asset allocations of institutional investors to cash, stocks, and bonds
  • During times of market stress, cash allocations tend to rise while stock allocations tend to fall
  • When short-term interest rates are relatively high, cash holdings tend to rise relative to bonds
  • Released monthly
Our latest report

Holdings

  • Long-term investor allocations to equities and cash fell by 0.2 percentage points each to 53.3% and 18.7% respectively.
  • Cash holdings are now back to their long-run average.
  • Fixed income holdings rose 0.4 percentage points to 27.9%, the biggest monthly rise in fixed income allocations since March 2023.

RiskAppetite

  • Institutional investor risk appetite moderated in April, led by a surge in demand for the US dollar.
  • Risk appetite in equities was more mixed, with weaker demand for high beta stocks, including tech, offset by firmer demand for emerging markets.
  • Even though investors returned to fixed income as a whole in April, demand was concentrated in Treasuries.
Holdings
  • Fixed Income ex Bills
  • Equities
  • Cash