With banks in Europe shrinking their balance sheets, borrowers will have to look elsewhere for credit, opening up opportunities for private credit providers

Fine art is a huge business and as an asset class can provide something of a safe haven, but it is not an area in which many private banks are currently able to offer advice to clients

Wealth managers now have enough faith in the global economy to recommend buying up distressed assets, but any moves into the asset class must be considered long-term

Wealthy investors have been attracted to commodities, and gold in particular, but with the future of the global economy uncertain, these holdings may not turn out to be the safe havens they were hoping for

Investments into renewable energy are on the rise, and funds tracking the sector are seing inflows, but the theme is better suited to those investors with a long-term horizon

The wide range of categories covered by alternative investments, many of them with low correlations to equity and bond markets, could offer stable income streams to investors, but fundamental research is essential before picking funds

Private equity may have fallen out of favour in recent times, but investors with medium-term horizons can find attractive returns in the asset class, as long as they select managers with proven experience

Rather than dealing in asset classes, investors should be thinking in terms of categories of risk to protect their portfolios