APAC increases slice of the family office pie as local demand heats up

InvestorDaily

While family offices manage some US$3.1 trillion in assets globally, this figure is expected to grow to US$5.4 trillion by 2030, new data from Deloitte has revealed. Currently, family offices with the greatest investment power lay in North America, with an estimated US$1.3 trillion in assets under management (AUM), while Asia-Pacific (APAC) bolsters a noteworthy US$590 billion. And until now, North America has been the fastest-growing region, but according to Deloitte, could soon be outpaced by APAC.

Namely, the number of family offices in the region, which currently sits at around 2,290, is expected to grow 40 per cent by 2030 to 3,200 offices, while North America is expected to rise 32 per cent. “The pace at which the landscape in North America is expanding is slowing down given its relative maturity, while in Asia-Pacific it is heating up given its more recent emergence in family offices,” the report highlighted. Looking at geographic expansion, Deloitte also pointed to a move towards rising insularity among those in North America and Europe when it comes to establishing secondary branches to their family office.

The rest of this article can be found at investordaily.com.au.