Citi Private Bank has released its Global Family Office Survey Insights 2023, a report based on a recent survey of the bank’s global family office clients. The report examines family offices’ “dual need to prepare wealth for their family and their family for wealth.”
Investment strategies and allocations are one major focus of the report. The survey found that family offices are shifting their asset allocations: Over half are increasing fixed income allocations and 38% are increasing private equity allocations. At the same time, 38% are cutting their public equity allocations. The survey found that 80% of family offices are engaged in direct investments, and 66% of them are still seeking deals.
In addition, the report examines the professionalization of family offices – something that is happening most quickly on the investment side – as well as at the increasing focus on sustainable investments and philanthropy.
Coverage of the report in the financial press highlights the wide variety of topics it covers:
- Citi’s Family Office Clients Are Hunting for Direct Investments (Bloomberg)
- Wealthy families pile into bonds, private equity while shedding stocks – Citi {Reuters via Yahoo! Finance)
- Family offices are overlooking governance in 2023: Citi report (Financial Planning)
- Family offices focusing more on wealth and investment management, says Citi (InvestmentNews)
- Citi Private Bank Reveals Top Priorities for Family Offices in Asia – Preserving the Value of Financial Assets & Preparing the Next Generation of Wealth Owners (Hubbis)