While multi-family offices have much scope to grow, they also face cost pressures and rising expectations from the ultra-wealthy individuals they serve.
Asset managers, advisers and distributors in India say planned rules to separate provision of investment advice from sale of mutual funds will hamper investment industry growth.
Wealth advisers agree that high net worth investors are increasingly turning their attention to outright asset performance when it comes to investing via funds.
The region's family offices are keen on real estate, equities and increasingly US private credit, according to a joint report by UBS and Campden Research.
Weaker growth numbers and high equity valuations could lead more foreign investors to trim positions amid some profit taking, say market experts.
A start-up platform that rates fund selectors is seeking more Asia participation, but that could be a tough slog given the low penetration of funds in the region, according to experts.