KEY POINTS
  • Asia's family offices used to have a far bigger appetite for risks compared to their global counterparts — but that could be changing, according to a recent survey.
  • What sets family offices apart from traditional wealth managers is that they solely offer services to an affluent individual or family.
  • On a global scale, 9% of the world's family offices are located in Asia, according to KPMG Private Enterprise and family office consultancy Agreus.
Singapore city skyline on September 18, 2016.

Asia's family offices used to have a far bigger appetite for risks compared to their global counterparts — but that could be changing, according to a recent survey.

A Citi Private Bank global survey in the third quarter of the year showed there has been a shift out of cash and into risk assets by family offices around the world — but with one notable exception, Asia.