Citi Private Bank is recommending that clients hold on to bonds given the uncertain climate for financial markets, Reuters reports.

At the Reuters Global Private Banking Summit, Debashish Dutta Gupta, the head of investment for Citi Private Bank Asia, said cautious investors should place around 50 per cent of their assets in fixed income, 15 to 20 per cent in equities, 10 to 15 per cent in alternative investments, and the rest in cash.

"You'll want to have a core portion of your portfolio that is heavy weighted on fixed income so that while markets find a direction, you at least earn an amount of carry along the way," Gupta was quoted as having said.

Alternative and non-interest rate linked assets have been gaining attention as investors become more wary about economic trends. Gold has become a popular commodity, especially among the high net worth segment. Gupta also noted Indonesia's potential to manifest strong growth over the next years.

"We like Indonesia very much... Indonesia is a completely different place today than what it was coming out of the Asian crisis. We are looking at a very strong growth path," he reportedly said.

Since the crisis, the Indonesian market has gone up 20 to 30 per cent per year. This year, so far, it has risen 40 per cent.