Asia Family Offices

Asia Family Offices

The Rise of Family Offices Investors in Asia

I was recently interviewed by Investments and Pensions in Asia for a story on the increase in family offices in Asia.  I visited Singapore only a few months ago, so I was able to share my insights based on my travels in the region (the picture to the left is from a video I recorded while in Singapore).

The article, Family offices on the rise in Asia, explains this trend in Asia and gives some good insights into how family offices have emerged in the region to serve high net-worth individuals. As I mention in the article, I see Asia--Hong Kong and Singapore in particular--as a emerging hot spot for family offices--and for hedge funds looking to raise capital from these investors--in the coming years.  You can read an excerpt of this article here or read the full article at the IPA website.
The number of high net-worth individuals (HNWI) in Asia-Pacific in 2010 had exceeded that of Europe, and is nearing that of North America, according to Capgemini and Merrill Lynch’s 2011 Asia-Pacific Wealth Report. The Asia-Pacific HNWI population grew 9.7%to 3.3million in 2010, with a total wealth of $10.8 trillion, according to the report.

“I do see more family offices being formed in Asia, specifically in Hong Kong and Singapore more than elsewhere,” says Richard C. Wilson, head of the 31,000-member Family Offices Group association. Globally, the majority of family offices are focused primarily on capital preservation, but those in Asia buck this trend.

“There is such a high concentration of first generation wealth in the region that many ultra-wealthy still have an appetite for further growth. The focus is really balanced between preserving a good amount of capital, but also putting some capital at risk for the hope of further growth,” Wilson says. The ultra-wealthy behind these family offices are almost always business owners, he says.

The growing interest in family offices in Asia reflects the increase in wealth and sophistication in the region, Katie Graves, an attorney at Withers in Hong Kong, tells IPA. “For many families in Asia, the family office is effectively a trusted family adviser operating out of the chairman's office of the family business.” Read More

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