Index of the world’s largest family offices to launch next year
Curious to know what other family offices are up to? Soon, you may get a peek into the activities of the biggest ones. The Sovereign Wealth Fund Institute will launch a global index of family offices in the first quarter of 2024.
The index will feature a 10-point scale, with family offices rated on 10 transparency-related categories. They include producing independently audited annual reports; publishing the size of their ownership stakes and geographic locations; and publishing guidelines in reference to ethical standards, investment policies and who enforces guidelines, Asian Investor reports.
"Audited financials; a publicly accessible website with information including policies and organizational structure, holdings and which external fund managers are used — our index will make it easy for the public to [find and] understand this,” said Michael Maduell, the institute's president and CEO.
The impetus for the index was the increasing growth of family offices and ultra-high-net-worth individuals, whose wealth totaled $10.1 trillion, according to the Knight Frank Wealth Report 2023.