News Digest: Geopolitical Risks Top Concern for Global Family Offices
June 3, 2024
News Digest:
A new survey has found that a major geopolitical conflict was among the top risk factors facing global family offices, both in the near and medium term, says a news report. Meanwhile North America and Asia Pacific would soon become top destinations for fresh asset allocations.
These were the findings of a UBS survey conducted across over 300 single-family offices across the world with an average network of 2.6 billion. Among this group, North Asian family offices were the most concerned over geopolitical risks with 70% rating it as the top risk in 5 years.
Takeaway:
Globally, family offices control around $10 trillion in assets. These families are now relying more on active wealth management solutions, with big exposures to alternative investments into private equity and hedge funds. Over the next five years, 50% of the respondents aim to raise their developed market equity allocations while a third plan to add PE investments and developed markets fixed income into their portfolios.