2024 11 18 – SINGAPORE HOME TO MORE THAN HALF OF ASIA’S FAMILY OFFICES, SAYS REPORT

Executive Summary:

Singapore hosts over half of Asia’s family offices, with 59% of the region’s offices based in the city-state, according to a 2023 report. Globally, family offices have become accustomed to uncertainty and are focusing on wealth protection amidst changing legislation and reputation management. Most of Singapore’s family offices have been operational for 10 years or less, with a significant portion managing assets in the $500 million to $1 billion range.

The report highlights regional differences in asset management, with Asia having fewer ultra-large family offices compared to the Americas. Family offices are expected to focus on opportunities in private equity in the post-pandemic era, anticipating a potential recession.