This edition marks the fifth year of the


annual GFOR, produced by Campden Wealth in partnership with UBS. Since its inception in 2014, the report has bridged a gap providing insights about this fast-growing wealth sector. From analysis of family offices’ investment practices, to their plans for succession and governance, the report has become the go-to source for effectively tracking the evolution of the family office space and for benchmarking family office performance. This year has seen data analysed from a


record 311 family offices from around the world between February and May 2018. Researchers also conducted 25 qualitative interviews with family office principals and executives, to better understand the shifts occurring within the family office community. Rebecca Gooch, director of research at


Campden Wealth, says the report series remains the most extensive study of its kind, which paints a detailed picture about the family office landscape at a macro-level and continues to provide valuable insight on emerging and sustained trends in wealth management. The expansion of the family office sector has


accelerated rapidly since the millennium. In fact, two-thirds of the family offices that participated in the research were established in 2000 or later, while only a tenth were founded before the 1970s.


So what did the latest GFO report


reveal? The study’s average family office portfolio of $808 million in assets under management returned a record 15.5% in 2017—more than double the 7% generated in 2016 and well above the 0.3% delivered in 2015. The bumper returns were partly driven


by the strong performance of equities and private equity, which make up 28% and 22% of the average portfolio respectively. Meanwhile, real estate direct investments rebounded to 17% after a moderate


Regional breakdown of the core family office


38%


34%


Europe


United Kingdom,Switzerland, Germany,Belgium, France, Spain, Italy, Luxembourg, Monaco, Czech Republic, Finland, Netherlands, Norway, Portugal, Turkey, Jersey, Cyprus, Lithuania, Denmark, Ireland, Malta, Sweden, Gibraltar, Kazakhstan, Estonia, Russia.


17%


North America United States, Canada, Cayman Islands, Bermuda, Barbados.


10%


Asia-Pacific


India, Singapore, Australia, Hong Kong, New Zealand, Malaysia, Pakistan, Philippines South Korea, Thailand.


Emerging Markets


South Africa, Ghana, United Arab Emirates, Brazil, Lebanon, Saudi Arabia, Colombia, Mexico, Chile, Israel, Panama, Guatemala, Argentina.


Source: The UBS / Campden Wealth Global Family Office Report 2018


Type of family offices 12% 13% 54% 21%


■ Single Family Office (Independent from Family Business) ■ Single Family Office


(Embedded within Family Business)


■ Private Multi-Family Office ■ Commercial Multi-Family Office


Source: The UBS / Campden Wealth Global Family Office Report 2018


ISSUE 75 SUPPLEMENT | 2019


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