Wealthy families are setting up secondary offices in Singapore to diversify their exposure to risks, particularly in Hong Kong, and to avoid areas being badly affected by the pandemic.
The increasing transfer of wealth between generations is could set the stage for increasing family office interest in ESG and sustainability.
The coming five years promise to see changes in leading family offices as they cater to wealth succession and a rising focus on sustainability.
The pandemic has challenged local communities to such an extent that family offices are switching their priorities in terms of impact funding.
Hong Kong's lack of stability is causing it to lose out to Singapore in the competition to manage and administer private family investments.
Volatile conditions temporarily limited a generally rising interest in private equity, but underlined a commitment to strategic asset allocation approaches, finds a new UBS report.