Alternative investments top choice for HNWIs

Alternative investments were the main beneficiaries of risk balancing strategies employed by the world's high net worth individuals (HNWI) in 2002, according to the Merrill Lynch/ Cap Gemini Ernst & Young World Wealth Report.

'Alternative investments appeared to be increasingly viewed as a comparatively safe method of diversification because they are less correlated with stock market performance,' the study said.

The report estimated HNWIs accounted for about 60% of assets in hedge funds and, alth