UBS – Global Family Office Report, 2024

The 2024 Global Family Office Report compiled insights from 320 single family offices with an average net worth of USD 2.6 billion, totaling over USD 600 billion of wealth. The report reveals an increase in family office weightings in developed market bonds, with the highest allocations in North America. There is a growing belief in active management for portfolio diversification, and generative artificial intelligence is the most popular investment theme for the next few years. Family office portfolios are returning to balance in 2024, adjusting for a world of moderating inflation and declining policy rates. The stabilizing macroeconomic environment, with inflation and policy rates peaking in the US and Europe, is expected to lead to positive US real interest rates for a longer period. European and Swiss family offices have differing expectations for US real interest rates, with some anticipating fluctuation around zero.