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Laxman Pai, Opalesque Asia:

When it comes to investing, institutional family office investors really like alternatives, secular growth themes, fixed income, their operating businesses, and, increasingly, private credit and venture capital, said a study.

According to the 2023 Family Office Investment Insight Report by Goldman Sachs, more than a third of family offices plan to put money to work in the next year to take advantage of market dislocations - but few are planning to invest in cryptocurrencies.

Family offices continue to maintain strong allocations to risk assets. Averages going into 2023 were reported as (percentages may not add up to 100% due to rounding): 28% public market equities, 26% private equity, 12% cash/cash equivalents (excluding U.S. Treasuries), 10% fixed income, 9% private real estate and infrastructure, 6% hedge funds, 3% private credit, and 1% commodities.

The report 'Eyes on the Horizon' surveyed 166 institutional family offices with a net worth of at least $500 million (93%), 72% having at least $1 billion.

Family offices reported the sectors in which they are most overweight are information technology and health care - secular growth themes with the potential to endure business cycles and drive value over the long term.

A substantial proportion of family offices reported planning to increase their allocations to the following asset classes for 2023: 48% of respondents increasing their public market equities allocation, ......................

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