High-net-worth allocation frameworks
Once a portfolio crosses seven figures, the question is not 'what should I buy' but 'how much of what, and why'. HNW allocation frameworks answer that with sleeves, risk budgets, and manager discipline.
The HNW baseline sleeve model
Liquidity — 1–3 years of family spending in cash and short-duration bonds.
Core growth — globally diversified listed equities, typically 40–60% of investable assets.
Defensive — investment-grade bonds and duration exposure.
Real assets — property, infrastructure, commodities.
Alternatives — hedge funds, private equity, private credit, and defined yield strategies.
Legacy / long-horizon — assets intended to compound across generations.
Sizing the alternatives sleeve
For HNW investors the alternatives sleeve is typically 10–25% of total investable assets, depending on horizon, liquidity needs, and existing exposures. Inside that sleeve, no single strategy should exceed a defined maximum — often 20–25% of the sleeve itself, so a full loss on any one strategy is a small percentage of the total portfolio.
Illustrative sleeve math on €2M
Alternatives sleeve at 15% of €2M = €300,000.
Maximum single-strategy weight at 20% of the sleeve = €60,000.
That €60,000 sits above the programme's Prime-tier minimum and can be sized cleanly.
Numbers are illustrative. Actual sizing depends on personal circumstances and independent advice.
What the programme adds to a HNW portfolio
A return driver — digital-asset market structure — that is not represented anywhere else in a conventional equity/bond/property portfolio. Its returns are not driven by equity market direction, so it can smooth aggregate portfolio volatility when equities have a bad year. It also can have bad months of its own; the point is that the bad months tend to arrive for different reasons than an equity drawdown.
Governance HNW allocators use
Written investment policy statement covering target sleeves, ranges, and rebalancing rules.
Annual review with independent advisor.
Quarterly risk review across all managers and strategies.
Documented due-diligence file for each strategy, refreshed annually.
What to avoid
Concentrating the alternatives sleeve in a single strategy or manager.
Funding illiquid positions with money you may need in 12 months.
Chasing headline yields without understanding the return driver.
Assuming past performance projects forward — it does not.
Frequently asked questions
- What counts as high-net-worth?
- Definitions vary. In most European frameworks, HNW starts at €1M in investable assets (excluding primary residence), with UHNW at €30M+. Regulatory definitions may differ.
- Is there a minimum allocation for HNW investors?
- The programme has tiers at €1,000, €10,000, €50,000, and an invitation-only Institutional tier. HNW investors typically enter at Prime or above and size according to their alternatives sleeve.
- How do HNW allocators use this?
- As one line item inside the alternatives sleeve, sized to a specific risk budget, alongside private equity, real estate, and hedge fund holdings.
See the programme
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