Family offices in Asia Pacific (Apac) are defensively positioned, with fixed income allocations at a five-year high and the joint highest cash weightings worldwide.
The region’s entities are also reducing direct private equity investments in favour of funds to increase diversification, according to UBS’s 2024 global family office report.
The annual study, the bank’s fifth based on in-house data and its biggest yet, surveyed 320 single-family office clients with average assets of $1.3bn. Apac was the biggest single region for the first time, reflecting the rapid growth of the sector in Singapore and Hong Kong, accounting for 33% of responses.