Sure enough, an inventory of Mrs. Astor's estate last fall, reported in The New York Times, shows investable assets totalling $79.5 million.
Her asset allocation looks much more aggressive than that of the average multi-millionaire, not to mention the average 105-year-old.
Hedge funds and private equity 59%For comparison, Northern Trust's 2007 Wealth Survey found the average asset allocation for those with $10 million or more was 40% stocks, 15% cash, 11% bonds, 11% private equity and 2% hedge funds, plus allocations to real estate and commodities.
Stocks 30%
Bonds 10%
Cash and equivalents 1%
Hedge funds, however, are a structure for pooled investing, not an asset class. The Times reports that Mrs. Astor had $20.6 million in a hedge fund that invests in equities. That suggests that over 50% of her investable wealth actually was allocated to stocks.
No comments:
Post a Comment