MONEY does not grow on trees, but if you are young and have $2 million there are ways of making more. The methods vary. ''It depends on your own preferences and how far you are willing to go with risks,'' said one broker. ''But if you are young and earning a steady income, I would recommend a portfolio with more risks; because you have the whole of your working life ahead of you.'' The important thing brokers agreed on was that the investment portfolio had to increase in value, at a rate that would outpace inflation. In order to make the best out of an investment, it is important not to put all your eggs in one basket, said Diccon Martin of Towry Law International, an independent broker. He said investors should keep a small amount as cash - five per cent of $2 million. ''It is relatively low [the portion] because the young person is still earning and can get cash easily,'' he said. That five per cent could be put into a money market fund which would ensure slightly better returns. ''But the bulk of the portfolio should be over a broad spread of international dollar-denominated mutual funds,'' he recommended, indicating a 40 per cent proportion, representing $800,000. Mr Martin said the funds being considered should have a good track record. He said 10 per cent should be channelled into warrant funds. Mr Martin also recommended that 20 per cent of the amount should be invested in the Asia-Pacific's emerging markets through mutual funds. ''There is higher growth potential in the emerging markets, and they will outperform OECD countries over the long term.'' Mr Martin also recommended that 10 per cent of the amount should be invested in bonds which should be bought when the interest rate was high and expected to fall. A further 10 per cent of the amount should be invested in managed currency funds, either a straight-forward fund or a geared currency fund. The remaining five per cent should then be invested in gold. Another consultant, Anthony Farr of Overseas Financial services, said his recommended weighting for the $2 million would be 40 per cent in currency and bond funds, 40 per cent in bonds and equity funds, and 20 per cent in warrant or futures funds. ''A balanced portfolio: parts of your money in different ethnic classes,'' he recommended. But the bottom line on the type of investment portfolio for a $2 million investment would depend on ''the client's attitude towards risks which determines basically what we recommend''.