Asian family offices

Asian family offices more self reliant than originally thought, says new research

December 8, 2014

Asian family offices are more self-reliant than originally thought, but that doesn’t mean their investment targets are being hit. This self-reliance is in keeping with an increased desire for independence.

Family offices in Asia-Pacific rely heavily on external service providers for core functions, according to the Global Family Office Report 2014, challenging a long-held stereotype that they are self-reliant. In fact, it has found that Asian offices spend roughly 20% less than those in Europe and North America.

According to the report, family offices in Asia-Pacific spend 46% of their total budget on external services, while those in North America and Europe spend between 63% and 70%, respectively.

Family offices set to grow in Asia-Pacific

February 23, 2012

The family office sector in Asia-Pacific looks set for strong growth, as the rise in wealth in the region, fuelled by strong economic expansion and liberalisation, continues, according to a study by Campden Research and UBS.

Although the number of billionaires in the region has soared – in China, this has gone from virtually zero 10 years ago to nearly 150 in 2011 – the family office sector has not grown at a similar pace. There are only an estimated 100 family offices in the region.