Changing market conditions, including a modest 1% return in 2022 (15% the previous year), are prompting North American family offices to adopt more conservative investment strategies, according to The North America Family Office Report 2023. Published by RBC and Campden Wealth, the report reflects 144 responses from family offices across North America and here are some key highlights:
- 38% are focused on growth compared to 48% two years ago
- 18% have adopted wealth preservation strategies compared to 13% in 2022
- 50% report an increase in assets under management
- 31% seek to expand their positions in technologies like artificial intelligence
- 41% intend to increase their allocations to private equity funds
- 40% believe their countermeasures are sufficiently robust to mitigate cyber threats
- 29% anticipate that the current family heads will resist ceding control in the near future
“Family offices are agile and adaptable entities.”
The North America Family Office Report 2023
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