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Laxman Pai, Opalesque Asia: Following the public equities upside in 2023, family offices are now shifting their portfolios from cash to risk assets with the expectation of portfolio gains in the coming year, said a study.
Also, nearly 40% of all family offices in Europe, the Middle East, and Africa decreased their weighting in cash, compared to 30% in North America, revealed the '2024 Family Office Survey' by Citi Private Bank's Global Family Office Group.
The survey captures the investment sentiment, portfolio positioning, family governance, and best practices of family office clients in 2024. It received a record number of respondents this year, making it the most global and comprehensive survey of its kind.
The 2024 Global Family Office Survey Insights Report also revealed a shift in portfolio allocations. Public equities and fixed income saw their weightings rise from 22% to 28% and 16% to 18%, respectively. Private equity also dipped from 22% to 17%, which may have been accentuated by valuations taking longer to adjust upward than public equities.
North America received the highest overall weighted allocations (60%) followed by Europe (16%) and Asia Pacific excluding China (12%). Allocations to China have almost halved to 5% from 8% since last year due to the country's ongoing economic challenges and market unease. North America's share of allocations was up from 57%, buoyed by a strong equity market.
Fixed income saw the greatest w...................... To view our full article Click here
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