Citi Private Bank: Asian family offices increasingly avoiding risky assets

Marcus Baram
Author Marcus Baram

Marcus Baram is a contributing editor at Crain Currency, where he covers the intersection of finance and politics. Prior to joining Crain Currency, Baram was a staff writer at Fast Company and an editor at Huff Post. He has also written for outlets such as The New York Times, The Atlantic, and Vice. Baram is an expert on economic policy and has a deep understanding of the ways in which politics shapes the global financial system. In his role at Crain Currency, he brings a unique perspective to the complex and ever-evolving world of finance. With his keen analysis and clear writing, Baram helps readers make sense of the important issues impacting the economy today.

Dec 18, 2023
1 year ago

In recent years, Asian family offices have seemed to be more eager than their global peers to put their money into risky assets. But that seems to be changing.

In the second half of 2023, Asian family offices put much more of their money into risky assets than low-risk ones compared with the first half of the year, Citi Private Bank's Hannes Hofmann told CNBC's "Squawk Box Asia" last month. Thus, "it's harder for them to add to risk at this point."

In total, 44% of assets held by Asian family offices were in private and public equity, with 30% to 33% in cash and fixed income, Hofmann said.

According to a Citi survey in November, family offices around the globe moved money out of cash and into riskier assets — except for Asia. 

Marcus Baram
Author Marcus Baram

Marcus Baram is a contributing editor at Crain Currency, where he covers the intersection of finance and politics. Prior to joining Crain Currency, Baram was a staff writer at Fast Company and an editor at Huff Post. He has also written for outlets such as The New York Times, The Atlantic, and Vice. Baram is an expert on economic policy and has a deep understanding of the ways in which politics shapes the global financial system. In his role at Crain Currency, he brings a unique perspective to the complex and ever-evolving world of finance. With his keen analysis and clear writing, Baram helps readers make sense of the important issues impacting the economy today.