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REGIONAL INVESTMENT


Is the


global smart money investing in Asia?


Family offices keep their investment strategies private, but an investigation into the United States’ two largest and most well known endowments – Yale and Harvard university – gives us an insight into how much the typical North American endowments are investing in Asia.


T 11% 14% 2% 47% 38%


he answer is – surprisingly – not much, although it has probably doubled in the past five years. By ‘smart money’, we are referring to family offices and


endowments, which are a typically US-centric investment entity. For example, the UK’s Oxford University’s endowment is around US$3 billion, a fraction of Harvard’s $27 billion, while the 27 endowments in Asia/Australia each have an average $280 million in assets. The annual reports from Yale and Harvard


do not state their asset allocation by geography but we can glean the following facts. ƒ Harvard acknowledges that ‘the market for good investment ideas is global, not local, and we are challenging ourselves to develop deeper


Chart 28 Howare Julius Baer clients invested by asset class?


How are Julius Baer clients invested by asset class? 1%


10% 1% 7% 36% 62% 3%


35% 29% 22% 14% 19% 17% 18% 14%


Others Alternative Investments Equity Bond Money market


Switzerland


Europe 12 FAMILY OFFICE: ASIA TOMORROW


Latin America


Asia Source: Julius Baer


Source: Julius Baer


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