67% of HNWIs prioritised wealth preservation as a critical objective
Source: Capgemini World Wealth Report 2023
NEWS
DBS LAUNCHES MFO SERVICE
Singapore’s DBS Private Bank has launched the DBS Multi Family Office Foundry VCC (DBS MFO), the world’s first bank-backed multifamily office that leverages Singapore’s Variable Capital Company (VCC) structure. (DBS)
INSIGHTS
WORLD WEALTH REPORT 2023: CAPGEMINI
The report highlights a decline in HNWI wealth and population in 2022 from the previous year, dropping by 3.6% and 3.3%, respectively. Market uncertainties have prompted a shift from growth-oriented investments to wealth preservation, necessitating careful cost management, exploring new value pools, investing in technology, and more such measures. (Capgemini)
INSIGHTS
NORTHERN TRUST AND WHARTON GLOBAL FAMILY ALLIANCE SURVEY FINDINGS
The report covers topics like geopolitical and economic uncertainty, financial performance & investment management, and environmental, social & governance investing. It mentions that respondents selected inflation, the possibility of recession, and geopolitical risk as top concerns and that succession plans are rare, with only one-third of respondents having a formal succession plan in place for either the family office or the family itself. (Northern Trust and Wharton Global Family Alliance)
INSIGHTS
THE NEW ERA OF SUSTAINABLE INVESTING
The article looks into how generational value and regulations are shaping impact investing. As we see a burgeoning interest in ESG, family offices can lead in sustainable investments by aligning with the next generation's focus on ESG issues and adapting to regulatory requirements. Family offices should develop tailored strategies, ensure compliance, monitor investments, and embrace the evolving landscape to drive long-term value and make a positive impact. (Forbes)
INSIGHTS
WHAT TO CONSIDER WHEN SETTING UP AN SFO: RBC
RBC offers advice on the things to consider when setting up a Single-Family Office, with key questions to consider and how to select the jurisdiction. It also looks at understanding the purpose of a family office and how to make sure your family office is designed to successfully serve its purpose. (RBC)
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