Amid market turmoil, more than half of Asia-Pacific family offices reported growth in their assets under management (AUM), according to a new survey of 330 family offices by the Raffles Family Office and Campden Wealth.
Of the family offices in the Asia-Pacific region, 58% reported an increase in AUM, with 32% seeing an increase of more than 10%. Their aggregate wealth was $68 billion.
The share of those pursuing a growth strategy rebounded — after dipping to 33% in 2022, it rose to 36% in 2023 and is projected to reach 43% within five years.
The generational shift was notable as well, with 15% of Asia-Pacific family offices now under the control of their next generation. That number is expected to reach 47% over the next five years.
Real estate is the top asset category for future investments, with 39% of family offices saying they intend to grow their allocations in this sector. Other popular categories are developed-market bonds, developed-market equities and private debt.
"Asia-Pacific family offices are evolving at a remarkable pace, embracing innovative strategies to navigate the dynamic markets," said Kwan Chi-man, group chief executive and co-founder of the Raffles Family Office.