UBS said allocations to developed market bonds have increased by the largest amount in five years, resulting in a greater balance between fixed income and equities.
With cash rates likely to fall, most aim to fund the increased bond allocations mainly from cash, and cash flows from their operating businesses. The survey showed that almost half of the ultra-rich families in the region plan to add more money into North America and Asia-Pacific, excluding Greater China, over the next five years.
Philanthropy and charity are popular with the super-rich in the region, with 45 per cent of family offices taking these sustainability issues into consideration. Healthcare is the top theme for about 60 per cent of family offices in the region.Globally, balanced portfolios appear to be back in favour as fund managers adjust for moderating inflation and declining policy rates, said Mr Benjamin Cavalli, head of global wealth management strategic clients at UBS.
In contrast, allocations to equities in emerging markets will continue to slide to 3 per cent in 2024, from 4 per cent in 2023.
Source: News Formal (newsformal.com)
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