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Global Family Office Report 2023

How are some of the world’s most sophisticated family offices thinking and acting?

Our survey included over 40 questions on the investment sentiment, portfolio actions and family office operations of our clients in 2023.

Key insights from our Global Family Office Report

How have family office portfolio positions changed in the last year?

Over half reported increasing fixed income allocations, 38% upped private equity allocations, while 38% cut public equity allocations.

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What were family offices’ and families’ concerns?

The top family concerns were preserving asset values, preparing the next generation, and ensuring shared goals and vision. Family offices were most concerned about inflation, interest rates and US-China relations.

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How are family office portfolios performing?

Amid rising asset prices in the first half of 2023, two-thirds of respondents saw mark-to-market portfolio increases. In addition, nearly all respondents were expecting positive portfolio returns over the year ahead.

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How are family offices allocating their portfolios?

Family office asset allocations are starting to reflect tactical and strategic reassessments.

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Are family offices still interested in direct investing?

Direct investments remain strongly in focus, with the majority of respondents seeking opportunistic deals, though some have paused new direct investments due to economic uncertainty.

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Are family offices investing sustainably?

While the gap between intention and action on sustainable investments remains large, it is starting to narrow, driven by growing sustainability concerns and a broadening range of themes and instruments

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What are family offices’ primary focuses?

Family offices have shifted their focus toward wealth management and investment management. This comes at the expense of fostering family unity and continuity.

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Are family offices professionalizing?

With the most rapid progress in the investment function, family office activities beyond investing are taking longer to professionalize.

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What are the top challenges facing family offices?

Adapting to changing market conditions (52%) and meeting the needs and expectations of family members (50%) were the two top challenges reported.

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What causes are family offices focused on and how are upcoming generations playing a role?

While the philanthropic focus has yet to adapt to reflect the priorities of the rising generation, families are increasingly aware that a generational philanthropic transition is coming.

Find out more about What causes are family offices focused on and how are upcoming generations playing a role?

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