Family offices shifted their strategic asset allocations last year, rebalancing their portfolios in the face of rising interest rates and shifting global risks, according to the Global Family Office Report 2024 from UBS. Meanwhile, as a historic generational transfer of wealth gets underway, succession issues continue to loom large.
These are just some of the findings of the report, which draws on information from 320 single family offices globally. It details the shifts in family offices’ asset allocation that took place last year and notes that this year is expected to see fewer changes in that regard.
The report found that although supporting the generational transfer of wealth is a commonly stated goal for family offices, just under half of family offices have a wealth succession plan for family members, and only about one-quarter have a succession plan for the family office.
The report also looked at the risks family offices are watching, including the risk of a major geopolitical conflict, inflation, interest rates and climate change.
This year’s report garnered widespread press coverage:
- Barron’s: Many Global Family Offices Aren’t Prepared to Transfer Their Wealth, UBS Survey Finds
- Reuters: Geopolitical risks top concern for global family offices, UBS survey shows
- South China Morning Post: Family offices pile into developed-market bonds to rebalance their portfolios: UBS survey
- Worth: What Billionaire Families Show About the Global Economy
- Institutional Investor: What’s Worrying Single-Family Offices, According to UBS
