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 are near their highest levels in 25 years.
  • The only times they were higher were during the dot-com bubble and the GFC, serving as a caution that today's buoyant sentiment could be vulnerable to shocks.
  • Foreign demand for Treasuries, Gilts, and OATs remaining weak

RiskAppetite

  • Institutional investors aggressive buying of risky assets mirrors the fervor seen in November 2020, when COVID vaccines were announced.
  • The State Street Risk Appetite Index rose to +0.54 at the end of July as Investors believe the peak of uncertainty, whether geopolitical or policy-related, has passed.
Holdings
  • Fixed Income ex Bills
  • Equities
  • Cash