UBS Global Family Office Report 2024

Discover the report’s key findings in a discussion featuring UBS speakers George Athanasopoulos, Head of Global Family Office & Institutional Wealth (GFIW), Aline Haerri, Head of Great Wealth Advisory, Maximilian Kunkel, Chief Investment Officer GFIW and Chrissie Loedolff, Content Lead GFIW Business Development.

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Material shifts in asset allocation as portfolio balance returns

Key findings

Family offices carried out some of their biggest shifts in strategic asset allocation in 2023, in a move to rebalance portfolios.
In a shift that may reflect elevated bond yields as much as active decision-making, they lifted allocations to developed market fixed income by the largest amount seen in five years.
Allocations to real estate declined at a time when commercial real estate prices in some regions have been falling. Compared to 2023, fewer family offices expect to make changes in 2024.

Climate change and debt crisis emerge as medium-term risks

Geographical asset allocations set to remain tilted towards North America

Image for Geographical Asset Allocations

Key findings

Family offices have kept their largest regional allocations in North America.
Looking ahead, North America and Asia-Pacific (excluding Greater China) look set to be the top destinations of added allocations, with over a third looking to increase allocations to each of these regions respectively over the next five years.
But there remains a strong home bias, especially in the US followed by Switzerland and Europe.

Confidence increases in active management

With sustainability in focus, family offices seek information and advice

Key findings

For family offices, sustainability is becoming an essential matter of risk and opportunity.
As many perceive climate change becoming a major concern, so they see sustainability as driving risks and opportunities for both their operating businesses and investment portfolios.
As sustainability requirements become more specific, partly driven by regulation in sectors such as real estate, family offices want more sophisticated information and advice.

Family offices focus on being investment specialists first and foremost

Key findings

Rather than carrying out the full gamut of tasks to support families, many family offices concentrate mainly on investments in-house.
Most family offices not only make investment decisions but also execute them. They also focus primarily on financial rather than non-financial risks.
With most family offices employing few staff, it is potentially challenging to do anything more than their core tasks.

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Global Family Office Report 2024

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Executive summary

Key findings

Key findings

Key findings

Key findings

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Key findings

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