With small differences in asset outlooks in AI forecasts, focus on diversification without over-concentration in specific assets

FOLIO Inc. (Head Office: Chiyoda-ku, Tokyo; Representative Director: Morifumi Yotsumoto), a subsidiary of SBI Holdings Inc. that provides innovative financial solutions, announced on June 29, 2026, that it has made changes to the investment allocation for its AI investment service "ROBOPRO®," which are conducted, in principle, once a month.

The investment allocation has been adjusted to an 8-asset structure, primarily holding real estate, developed market stocks, gold, emerging market bonds, U.S. stocks, and U.S. bonds, in order of allocation, with a slight holding of high-yield bonds and emerging market stocks.

Comparing the AI-based return forecasts for each asset used in "ROBOPRO," the outlook for developed market stocks and gold was relatively high, while the outlook for bond assets was low. However, overall, no single asset had a significantly outstanding outlook.

Based on these forecasts, portfolio optimization using financial engineering resulted in an investment allocation that shifts the focus of stock assets from U.S. stocks to developed market stocks, while continuing to broadly diversify across bond assets, real estate, and gold.

*The investment allocation above shows the ratios at the time of change for March 2026 (March 2), April 2026 (March 27), May 2026 (April 30), June 2026 (May 29), and July 2026 (June 29). In February 2026, an extraordinary rebalance was conducted on February 2 in addition to the regular change.

*The numerical values in the stacked bar chart are displayed by truncating the second decimal place and beyond, so the sum of the displayed values may not be 100% and may result in errors.

◼️ Analysis of AI Forecasts and Background of This Investment Allocation Change

This month's allocation change resulted in holdings of just over 35% in stock assets, and just over 20% each in bond assets, real estate, and gold, achieving diversification without over-concentration in specific assets.

Looking at the future forecasts by AI, there were no assets with outstanding outlook levels, suggesting that the allocation was made with diversification in mind, while making adjustments such as increasing developed market stocks within stock assets and emerging market bonds within bond assets. Below, we will consider the main factors that are thought to have influenced the outlook for each asset.

Developed Market Stocks / U.S. Stocks

Developed market stocks became the core of stock assets as their outlook improved relatively significantly, replacing U.S. stocks, whose outlook improvement was marginal. Developed market stocks in European countries showed strong performance in June, and the lingering sense of being left behind is thought to have had a positive impact on their outlook.

Emerging Market Bonds / U.S. Bonds

Although the outlook for emerging market bonds slightly receded, they had the highest outlook among bond assets, leading to an increase in their allocation. Furthermore, while the outlook for bond assets was generally low, their low correlation with stock assets and real estate is expected to reduce the overall risk of the portfolio. U.S. bonds, which were the core of bond assets last month, are thought to have seen a significant decline in their outlook as the mood for risk aversion eased, with factors such as the stabilization of soaring energy prices.

Real Estate

Financial markets, including stocks and foreign exchange, have become somewhat calmer compared to before, due to factors such as the ongoing peace negotiations between the U.S. and Iran, which are progressing with ups and downs. This continues to have a positive impact, and while the ratio has decreased, a relatively large allocation is maintained.

Gold

While negative impacts from the long-term instability of energy prices and positive impacts from the tendency to be oversold due to the sluggish gold price are intertwined, the outlook remains relatively high, and the same ratio as last month was maintained.

▶︎ For information on this and past investment allocation changes, please refer to the following URL:

"ROBOPRO" Rebalance Report https://ai.folio-sec.com/rebalance-report

Features of "ROBOPRO"

Analyzes over 40 leading indicators from multiple perspectives to predict the future

The AI analyzes over 40 types of market data, combining approximately 1,000 features from multiple perspectives to predict financial markets. The market data used for analysis is strictly selected from "highly leading data" that moves ahead of the actual economy, allowing for precise predictions.

Makes rational decisions and is expected to respond to trend changes

Operations are conducted through a rational investment decision-making process that fuses AI technology with traditional financial engineering theory. While humans may find it difficult to make calm decisions due to emotions and preconceptions, this service is not swayed by these factors and makes decisions based on a quantitative and rational perspective.

Changes investment allocation monthly based on AI predictions

At times, the ratio of stocks, which are offensive assets, is increased, and at other times, the ratio of gold, a defensive asset, is increased. By adjusting the investment allocation based on market forecasts, we continuously aim to maximize performance. In the event of sudden market changes, the investment allocation is changed temporarily to respond to market shifts.

▶︎ For details on "ROBOPRO," please check the following URL:

https://ai.folio-sec.com

Utilization of AI Investment Expertise

The AI investment expertise cultivated by FOLIO through "ROBOPRO" is also utilized in "SBI Wrap AI Investment Course" (SBI Securities Co., Ltd.), "Himegin Wrap / ROBO PRO AI Wrap" (Ehime Bank, Ltd.), and "Ashigin Investment Advisory Service STORY AI Course" (Ashikaga Bank, Ltd.). Furthermore, its application is expanding to financial products where FOLIO is involved as an investment advisor, such as the public investment trust "ROBOPRO Fund" established by SBI Asset Management Co., Ltd.

※ "ROBOPRO®" is a registered trademark of FOLIO Inc.

[Information related to the Financial Instruments and Exchange Act, etc.]

Company Name, etc.: FOLIO Inc. Financial Instruments Business Operator

Registration Number: Director of Kanto Local Finance Bureau (Kinsho) No. 2983

Memberships: Japan Securities Dealers Association, Investment Trusts Association, Japan

<Regarding fees, risks, etc.>

Opening and management fees for FOLIO's general securities account are free.

When investing in products handled by FOLIO, you may be required to bear certain fees and necessary expenses for each product. Additionally, in transactions of financial instruments, there is a risk of loss due to fluctuations in stock prices, exchange rates, interest rates, and other indicators, and the principal investment may not be recovered. When entering into a contract, please thoroughly review the contents of the pre-contract disclosure documents, etc.

Details of fees and risks can be found here

https://folio-sec.com/support/terms/transaction-fees

About FOLIO Holdings Inc.

FOLIO Holdings Inc., with the mission "Designing Tomorrow's Finance," aims to realize a prosperous future by creating financial solutions required by society. Currently, it has under its umbrella FOLIO Inc., which provides discretionary investment management solutions and investment advisory services to individual customers and financial institutions, and AlpacaTech Inc., which develops investment, operation, research, analysis, and system integration solutions for the financial industry. With strong business synergy between these two companies, it is expanding financial solutions that utilize advanced technological capabilities. Moving forward, we will continue to sincerely address the challenges of our customers and society, design new solutions with the technological prowess and creativity that are strengths of the FOLIO Group, and provide the value of the FOLIO Group to a wider range of stakeholders. FOLIO Holdings Inc. is a group company of SBI Holdings, Inc., which is listed on the Prime Market of the Tokyo Stock Exchange and has SBI Securities under its umbrella.

Head Office Location: Kyodo Building Ichibancho 4F, 1-16-1 Ichibancho, Chiyoda-ku, Tokyo

Business Activities: Management of group companies and related services

Representative: Shinichiro Kai, Representative Director, President and CEO

Established: April 1, 2019

URL: https://folio-hd.com

Company Profile of FOLIO Inc.

Head Office Location: Kyodo Building Ichibancho 4F, 1-16-1 Ichibancho, Chiyoda-ku, Tokyo

Business Activities: Type I Financial Instruments Business, Investment Management Business, Investment Advisory and Agency Business

Registration Number, etc.: Financial Instruments Business Operator, Director of Kanto Local Finance Bureau (Kinsho) No. 2983

Memberships: Japan Securities Dealers Association, Investment Trusts Association, Japan

Representative: Morifumi Yotsumoto, Representative Director

Established: December 10, 2015

URL: https://folio-sec.com