{
  "docId": "019dd923-5e88-73ef-bd57-f1e99b268be1",
  "docSlug": "3a520a6b825ef409",
  "documentTitle": "Private Markets Asset Allocation Guide May 2023  002",
  "authorId": "UBS",
  "authorName": "UBS",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "equity_research",
  "sourceTypeLabel": "Equity research",
  "presentationDate": null,
  "orientation": "landscape",
  "aspectRatio": 1.333,
  "pageNumber": 15,
  "pageCount": 45,
  "prevPage": 14,
  "nextPage": 16,
  "slideType": "comparison_table",
  "function": "compare_peers",
  "density": "dense",
  "nDataPoints": 14,
  "notes": "The slide uses a two-part chart structure to show returns vs risk-adjusted returns.",
  "elementsJson": [
    "bar_chart_vertical",
    "bar_chart_horizontal",
    "data_table",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5e88-73ef-bd57-f1e99b268be1/15",
  "deckHref": "/decks/019dd923-5e88-73ef-bd57-f1e99b268be1",
  "deckJsonHref": "/decks/019dd923-5e88-73ef-bd57-f1e99b268be1.json",
  "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd57-f1e99b268be1#slide-15",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Private markets have provided better risk-adjusted returns over the long-term than other major asset classes",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-41a7-75de-bd84-c97a817ea7e9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.5,
        "w": 0.45,
        "x": 0.52,
        "y": 0.215
      },
      "kind": "chart",
      "text": "Excess return per unit of risk (Sharpe ratio) by asset class",
      "attrs": null,
      "subkind": "bar-horizontal",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8f17d7ab-e162-4c64-8eaa-5ec264262e3f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.5,
        "w": 0.45,
        "x": 0.04,
        "y": 0.215
      },
      "kind": "chart",
      "text": "Compound annual total return by asset class",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "65440814-4269-43d4-98fb-3049259cf158",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Sharpe ratio: 2.09",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-41a7-75de-bd84-cda51eb7cd1f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.7,
        "x": 0.04,
        "y": 0.15
      },
      "kind": "paragraph",
      "text": "Private markets have provided better risk-adjusted returns over the long-term than other major asset classes",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f55ea64e-3c01-44e5-9e36-c00b870f8f68",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.8,
        "x": 0.12,
        "y": 0.9
      },
      "kind": "source-note",
      "text": "Source: Refinitiv, Cambridge Associates, Morningstar, UBS. Data as of 30 Sept 2022. For illustrative purposes only.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a32f32d3-fc22-4a9e-9d7c-498f9c1f0dff",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.45,
        "x": 0.04,
        "y": 0.78
      },
      "kind": "table",
      "text": "Average risk p.a. (standard deviation of total return)",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7d851b7f-93fc-4e81-8eb4-07370c52bc89",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.5,
        "x": 0.04,
        "y": 0.07
      },
      "kind": "title",
      "text": "Attractive risk / return characteristics",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3c9c3c4f-9243-43de-b310-f6f187ec54f8",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 20,
      "from": 11,
      "beatId": "09c3c4e0-614f-46b5-a364-1d200440159a",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Solution & Approach",
      "beatSlug": "consultants-gambit-solution-approach",
      "evidence": "The document provides a roadmap for constructing a private markets portfolio",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [
    {
      "to": 15,
      "from": 5,
      "name": "Pattern Hunter",
      "slug": "02-pattern-hunter",
      "bestFor": "Time-pressed audiences, building consensus, when data is strong",
      "matchId": "093d2925-4a6b-418e-8b44-519cd9c14b75",
      "evidence": "The document discusses the benefits of investing in private markets",
      "position": 0,
      "objective": "To identify patterns in private markets investing",
      "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
      "confidence": 0.6,
      "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
    },
    {
      "to": 25,
      "from": 11,
      "name": "Golden Circle",
      "slug": "11-golden-circle",
      "bestFor": "Visionary leadership, brand positioning, mission statements",
      "matchId": "a1ff58d3-5d0e-4513-b80e-acff1abc05ab",
      "evidence": "The document provides a framework for constructing a private markets portfolio",
      "position": 1,
      "objective": "To understand the why, what, and how of private markets investing",
      "structure": "The Why (Belief) -> The How (Process) -> The What (Result)",
      "confidence": 0.7,
      "description": "Invert the typical pitch by starting with why you exist, rather than what you do"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}