{
  "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": 34,
  "pageCount": 45,
  "prevPage": 33,
  "nextPage": 35,
  "slideType": "financial_analysis",
  "function": "quantify_impact",
  "density": "dense",
  "nDataPoints": 12,
  "notes": "Uses the Takahashi Alexander cash flow model.",
  "elementsJson": [
    "headline_text",
    "area_chart",
    "line_chart"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5e88-73ef-bd57-f1e99b268be1/34",
  "deckHref": "/decks/019dd923-5e88-73ef-bd57-f1e99b268be1",
  "deckJsonHref": "/decks/019dd923-5e88-73ef-bd57-f1e99b268be1.json",
  "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd57-f1e99b268be1#slide-34",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "A continuous over-commitment strategy of ~25% of the target allocation can help achieve long-term targets",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-41a8-71cc-b869-53b5eec8d125",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.5,
        "w": 0.83,
        "x": 0.11,
        "y": 0.2
      },
      "kind": "chart",
      "text": "Stacked area chart showing portfolio NAV over 12 vintage years",
      "attrs": null,
      "subkind": "area-stacked",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5cae1503-e420-46db-b66b-5cae144770c8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.75,
        "x": 0.12,
        "y": 0.935
      },
      "kind": "disclaimer",
      "text": "Source: Data as of 30 Sept 2022. Source: Burgiss, UBS. Estimates based on the Takahashi Alexander cash flow model. Illustration based on aggressive UHNW alternatives allocation.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fcff7bf5-f384-4427-a7a8-e2b5e055680d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.1,
        "x": 0.45,
        "y": 0.74
      },
      "kind": "legend",
      "text": "No overcommitment",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1d81a8ec-72ca-4e5a-9b59-63772ae9c0bb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Portfolio NAV: 25%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-41a8-71cc-b869-56b77d280db7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.86,
        "x": 0.04,
        "y": 0.15
      },
      "kind": "title",
      "text": "A continuous over-commitment strategy of ~25% of the target allocation can help achieve long-term targets",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7def1e68-deb7-4109-85b9-34e0b2bc5b2a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.92,
        "x": 0.04,
        "y": 0.07
      },
      "kind": "title",
      "text": "Achieving target allocation through multi-year commitments",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3da26b75-0557-4143-a729-6d958571bc65",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Waterfall chart",
      "slug": "waterfall-chart",
      "agent": null,
      "layer": "slide",
      "matchId": "49206ff4-ec5f-49b7-8588-45a4d228ff63",
      "evidence": "The slide contains a stacked area chart showing portfolio NAV over 12 vintage years, which resembles a waterfall chart.",
      "confidence": 0.8
    }
  ],
  "frameworks": [
    {
      "name": "Takahashi Alexander cash flow model",
      "slug": null,
      "matchId": "e19f3f8a-5bc1-4f52-a0ab-ec3cd8619385",
      "evidence": "Explicitly mentioned in the source note.",
      "confidence": 1
    }
  ],
  "arcBeats": [
    {
      "to": 45,
      "from": 31,
      "beatId": "6ba3d635-bc9a-4475-b02f-b349fa367466",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Impact & Next Steps",
      "beatSlug": "consultants-gambit-impact-next-steps",
      "evidence": "The document provides guidance on implementing a private markets portfolio",
      "position": 4,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}