Goldman Sachs’ comprehensive analysis of the World Portfolio reveals structural shifts in global asset allocation, portfolio performance, and diversification strategies. It includes public equities, bonds, gold, and alternatives like private markets and cryptocurrencies. The World Portfolio is currently estimated at approximately $250 trillion, or about 200% of world GDP. Equity weight relative to bonds has increased notably. The World Portfolio has delivered a real return of nearly 4% since World War II. Given the asset allocation parameters, the 60/40 portfolio outperformed on a risk-adjusted basis since 1950, while risk parity has excelled post-1990. Key findings:

Published on October 28, 2025