Wealthy investors are increasingly turning from hedge funds and equities to invest in real estate, according to a recent survey. The trend is being exacerbated by global political uncertainty.

These high net worth investors have allocated a third of their portfolios to real assets as of Q2, Bloomberg reports; this is a record since levels for these investors started being recorded 10 years ago. The survey was conducted by Tiger 21, a peer learning group with more than 500 members with a net worth of at least $10M. Tiger founder Michael Sonnenfeldt said the shift in favor of real estate is sizable and noteworthy.

“Our members are most comfortable with assets they can have direct ownership of. They can own a building or a part of a small company,” Sonnenfeldt told Bloomberg. “When you have such a low ability to produce returns you can go to income-producing assets.”

CORRECTION, JULY 21, 1:30 P.M. ET: A previous version of this story incorrectly listed Tiger 21’s membership total and net worth requirement. The story has been updated.