Family Offices

[winston]

The world's wealthiest families are stockpiling cash as recession fears grow

A majority expect the global economy to enter a recession by 2020, with the highest percentage of gloomy respondents in emerging markets.

About 42% of family offices around the world are raising cash reserves.

Jeffrey Gundlach, chief investment officer of DoubleLine Capital, said this month he thinks there’s a 75% chance of a U.S recession before the November 2020 presidential election, while the World Bank cut its 2019 global forecast to the slowest since the financial crisis a decade ago.

Family offices have become a greater force in global financial markets. Campden estimates that such firms manage around US$5.9 trillion. The offices in the UBS survey had an average of US$917mil under management.

Average family-office returns for the 12 months prior to taking the survey were 5.4%, according to UBS.

Source: The Star

https://www.thestar.com.my/business/bus ... 8oXgWvS.99

[winston]

Family offices making tactical changes to portfolios

Billionaires are seeking to make tactical changes by reallocating their cash from stock markets to private equity assets with lower liquidity, after they recorded gains from the recovery from March to May, an investment ba nk says.

The UBS Global Family Office Report 2020, surveyed principals and executives in 121 family offices around the world.

The sample is of single-family offices, covering a total net worth of US$142.4 billion (HK$1.11 trillion), with the individual families’ net worth averaging US$1.6 billion, significantly larger than that of any other comparable study.

A majority, or 76 percent, of respondent family offices said that their portfolios have now performed in line with, or above, target benchmarks, and family offices are making tactical portfolio changes in response to market dislocations amid the coronavirus pandemic.

Also, more than three-quarters of family offices invest in private equity, with 69 percent viewing it as a key driver of returns, according to the report.

Source: The Standard

https://www.thestandard.com.hk/breaking ... portfolios

[winston]

Asia-Pacific families grow wealth faster on back of riskier assets like cryptocurrencies, report says

More than 90 per cent of family offices in the region plan to increase or maintain existing private equity investments next year

The survey of 385 family offices globally shows a greater appetite in Asia for new asset classes like cryptocurrencies

by Enoch Yiu

Source: SCMP

https://www.scmp.com/business/banking-f ... ck-riskier

[winston]

A Guide to Using a Family Wealth Office

By Deanna Ritchie

Source: Epoch Times

https://www.theepochtimes.com/a-guide-t ... aRW80J4%3D