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

  • Equity allocations have reached their highest level in 18 years, with investors continuing to add to stocks and reduce cash holdings.
  • Bond allocations remain low and broadly unchanged.
  • Portfolios are heavily tilted towards US equities, technology and styles such as Quality, Growth, Beta and Large Caps, with positions extended and expensive.

 

RiskAppetite

 

  • The State Street Risk Appetite Index has moved down from risk seeking to neutral after six months, as flows shifted into defensive stocks and the US dollar, while cyclicals, commodities, emerging market currencies and high yield currencies were sold.
  • Investors are not turning risk averse; they continue to buy high yield bonds and tech stocks, showing selective risk taking rather than broad caution.

 

Holdings
  • Fixed Income ex Bills
  • Equities
  • Cash