[Wang Wenqi: private wealth, alternative assets, and ESG will become the three major trends in the deployment and adjustment of capital management agencies] at the 14th Lujiazui Forum, Wang Wenqi, vice chairman of the Asia-Pacific region of Bank of America Merrill Lynch, elaborated in detail the three major trends in the active deployment and adjustment of capital management agencies. The first trend is that private wealth will play an important role in the future deployment of asset managers. Private wealth accounts for 50% of the total global wealth. At present, only a small part of private wealth is handed over to asset managers, and private wealth is bound to become the main source of new funds pursued by asset managers in the future. The second trend, the importance of alternative assets is becoming increasingly prominent. From the overall asset portfolio of global asset management institutions, most of the allocation is still in the traditional investment areas of stocks and bonds. The proportion of alternative capital, especially private equity investment, is very small. Today, when the value of the stock market and bond market is falling at the same time, alternative assets should receive more attention and attention. With regard to the reasons, Wang Wenqi pointed out that there are three main reasons: first, the returns of private equity funds far outperform the market; second, the fees for alternative assets must be higher than traditional assets; third, alternative assets have become an important tool for portfolio diversification; the third trend is ESG. It has been seen that more and more asset management agencies have set up professional ESG teams, and ESG is also regarded as one of the main elements in screening investment targets. (reporter Feng Qijuan)