The acceleration of new technologies, ageing populations and changes in consumer spending habits have been identified by global heavyweight investors as the main demographic and societal changes that are set to have the biggest impact on where they allocate money.

According to a survey published by BNP Paribas Asset Management, three quarters of institutional investors and intermediaries polled across Europe, the US and Asia said demographic changes have impacted asset allocation decisions over the past three years, with 95% expecting it will shape their investment decision making over the next decade.