China's super-rich eye family office for wealth management: report
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E-mail Xinhua, January 11, 2020
BEIJING, Jan. 11 (Xinhua) -- China's super-rich community are increasingly interested in using family offices to manage their wealth, a new survey report showed.
About 64 percent of the respondents are using family office services, which manages the wealth of ultra-high-net-worth individuals, a survey report released by global investment bank UBS together with other partners showed.
The relatively subdued global economic environment and heightened uncertainty seem to be reinforcing the drive toward structure and organization in Chinese wealth management.
Some 75 percent of the families not using family office services are interested in doing so. Of those interested, about 84 percent are actively taking measures to set up or join a family office, the survey said.
The survey also found that some 44 percent of the respondents have adopted a growth-oriented investment strategy, while private equity was preferred to public equity in their investment portfolio. Enditem
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