UBS Global Family Office Report 2022: 221 Single Family Office Surveyed with $2.2 Billion Wealth Per Family Office
10th June 2022 | Hong Kong
UBS has released the UBS Global Family Office Report 2022, surveying 221 single family offices with total wealth of $493 billion ($258 billion AUM), averaging $2.2 billion ($1.2 billion AUM) per family office. Key findings from the 221 family offices include the average annual cost per family office is 0.42% of assets, identifying 3 major family office concerns (rising inflation, global geopolitics, valuation), and the top 3 tasks performed within the family office: Strategic asset allocation, Risk management, Financial accounting & reporting. On investments, the highest asset allocation for family offices are equities (32%), developed market (24%), fixed income (15%), private equity (21%) and direct investments (13%). 53% of family offices have also increased their due diligence process when looking to invest, and 63% feels that high-quality fixed income no longer helps to diversify overall portfolio risk. Of the 221 family offices surveyed, 42% (beneficial owners) are based in Europe, 10% are based in North America, 14% from Asia-Pacific, 16% from Middle East & Africa and 15% from Latin America. 85% of the family offices still have operating businesses, with the top sector representation from industrials (17%), financials (17%) and real estate (11%). See below for key highlights.
“ 221 Single Family Office Surveyed with $2.2 Billion Wealth Per Family Office “
Key Highlights of UBS Global Family Office Report 2022

Key Highlights:
- Average annual cost per family office is 0.42% of assets
- 3 major family office concerns: rising inflation, global geopolitics, valuation
- Top 3 tasks performed within the family office: Strategic asset allocation, Risk management, Financial accounting & reporting
- Highest asset allocation for family offices are equities (32%), developed market (24%), fixed income (15%), private equity (21%) and direct investments (13%).
- 53% of family offices have also increased their due diligence process when looking to invest
- 63% feels that high-quality fixed income no longer helps to diversify overall portfolio risk.
Of the 221 family offices surveyed:
- 42% (beneficial owners) are based in Europe
- 10% are based in North America, 14% from Asia-Pacific
- 16% from Middle East & Africa
- 15% from Latin America
- 85% of the family offices still have operating businesses, with the top sector representation from industrials (17%), financials (17%) and real estate (11%).
- 221 single family offices with $493 billion wealth ($2.2 billion per family office)
- 221 single family offices with $258 billion assets ($1.2 billion per family office)
2021 Strategic Asset Allocation:
- Equities: 32%
- Developed Markets: 24%
- Developing Markets: 8%
- Fixed Income: 15%
- Developed Markets: 4%
- Cash Equivalent: 10%
Alternative Asset Class Allocation:
- Private Equity: 21%
- Direct Investments: 13%
- Funds / Funds of Funds: 8%
- Real Estate: 12%
- Hedge Funds: 4%
- Private Debt: 2%
- Gold / Precious Metals: 1%
- Commodities: 1%
- Art & Antiques: 1%
- Infrastructure 0%
3 Major Family Office Concerns:
- Rising inflation (25%)
- Global geopolitics (21%)
- Valuations (20%)
Family Office Home Bias (Asset Allocation within region):
- United States: 75% (Allocated within region)
- Western Europe: 46%
- Asia-Pacific: 55% (Includes Greater China)
- MENA: 27%
- Latin America: 18%
Popular Investment Theme:
- Digital Transformation: 84%
- Medical Devices / Health Tech: 75%
- Automation & Robotics: 72%
- Green Tech: 69%
- Fintech: 68%
Views on Portfolio Construction:
- 63% ~ I no longer feel that high-quality fixed income helps me diversify my overall portfolio risk
- 62% ~ Illiquidity increases returns
- 54% ~ I’m managing portfolio risk more actively now in comparison to previously
- 37% ~ I’m willing to accept more risk in future in order to get the same returns
- 33% ~ I’m no longer able to build a complete portfolio with long-only investments
Family Offices Stepping up Due Diligence:
- 53% ~ We have increased our due diligence process when looking to invest
- 41% ~ We are actively allocating more to companies/sectors that are focused on directly impacting real world issues (e.g., lowering carbon emissions, renewable energy etc.)
- 34% ~ We are actively allocating more to companies/sectors that can demonstrate strong ESG performance
- 25% ~ We are actively engaging with management teams on sustainability/ESG in private equity deals
Investing / Considering Investing in Digital Assets:
- Distributed ledger technology – 35%
- Cryptocurrencies – 26%
- Decentralized finance (DeFi) – 22%
- Digital exchanges – 20%
- Non-fungible tokens (NFTs) – 14%
- Digital assets (photos, videos) – 7%
Family Office Expenses (US / Western Europe / Switzerland / APAC):
- Staff Costs: 80% / 53% / 67% / 44%
- IT / Technology: 54% / 40% / 44% / 50%
- Research: 29% / 26% / 12% / 37%
- Legal &/or Compliance: 33% / 23% / 37% / 31%
- Asset management costs: NA
- Banking-related services fees: NA
- External structures: NA
Annual Cost of Family Office:
- Average: 0.42%
- $100 million to $250 million: 0.58%
- $251 million to $1 billion: 0.42%
- More than $1 billion: 0.31%
No. of staffs in Family Office:
- 1 – 3: 23%
- 4 – 10: 38%
- 11 – 20: 24%
- 21 – 50: 11%
- More than 50: 4%
Top 3 Tasks Performed in-House
- Strategic asset allocation 83%
- Risk management 78%
- Financial accounting and reporting 70%
More Tasks Performed in-House
- Portfolio administration
- Accounting
- Philanthropy
- Succession planning
- Real estate
- Investment research
- Lifestyle services
- Corporate finance consulting
- Tax planning
- Legal services
- Pension/life assurance planning
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