Asset Allocation & Real Assets

Adaptive capital allocation across selected private market opportunities and strategic positions, dynamically adjusted in response to prevailing market conditions and risk environments. The framework is designed with embedded flexibility to reduce exposure, reallocate capital, or temporarily pause market engagement during periods of elevated uncertainty or systemic risk. All positioning is governed by internal risk controls and capital preservation priorities, ensuring that allocation remains aligned with the Group’s stability mandate and long-term balance sheet resilience. The Group also maintains allocation capabilities across real estate assets, physical gold holdings, and equity participations in established and stable operating companies, as part of a diversified institutional approach focused on capital preservation and structural stability.