SINGAPORE: In a recent revelation from Citi Private Bank’s 2024 Family Office survey, as published by the Straits Times , Asia-Pacific family offices – the custodians of the wealth of the super-rich – are taking the lead in ramping up their investments in public equity, or publicly traded companies. An impressive 68% of family offices in the Asia-Pacific region reported boosting their allocations to public equity, outpacing other regions significantly. In contrast, only 32% of their North American counterparts made similar moves.
The survey also highlighted that about 42% of Asia-Pacific family offices increased their investments in fixed income , while 39% raised their stakes in private equity, focusing on non-listed companies. Interestingly, real estate emerged as the asset class with the least change across all regions, indicating a cautious approach or a strategic shift in investment preferences. These findings underscore the dynamic investment landscape and the pivotal role that Asia-Pacific family offices are playing in shaping global financial markets.
Family offices’ contribution to Singapore’s economic growth In Singapore, family offices have emerged as pivotal players, significantly bolstering the nation’s economic growth through a multifaceted approach. As the number of these offices grows, so too does the volume of assets under their management, a development that fortifies Singapore’s financial sector and underpins its economic stability. These fami.