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Family offices are maintaining a steady course amid ongoing trade tensions and regulatory uncertainties. The newly released Citi Wealth 2025 Global Family Office Report—drawing insights from 346 offices across 45 countries—shows asset allocations have remained largely unchanged, with private equity as the preferred destination for new capital, especially among offices overseeing more than $500 million in assets under management. Nearly 8% of respondents expect portfolio returns above 15%, while half forecast 5-10% gains, illustrating resilience and moderate optimism despite muted sentiment on public markets like equities and real estate.

The spotlight has shifted to Dubai and Abu Dhabi as premier family office hubs. Over 200 new family offices have been established in Dubai in 2025 alone, profoundly expanding its influence to represent over 20% of all new global establishments—and now hosting more than 800 family offices total. Key draws include tax neutrality, privacy, and access to growth markets, with prominent international families and major investors like Ray Dalio and Leon Black opening offices in the region. European centers such as London and Geneva face heightened pressure to stay competitive as capital increasingly flows to the Gulf.

Asia-Pacific & Emerging Markets

Asia's family offices report returns above 5% in 2025 and demonstrate resilience in their portfolios in response to trade frictions, according to the Citi survey, while Singapore’s status as an Asian hub continues to rise despite regulatory frictions. Family office asset allocations into private equity reached $727 billion, reflecting strong confidence in alternatives as a cushion against market volatility.

The September 2025 Impact Week in Singapore and the AVPN Global Conference in Hong Kong both anchored themselves as leading platforms to advance sustainable development and inclusive impact investing in Asia.

Impact Week, held at Suntec Singapore, brought together global family offices, businesses, and communities for a five-day festival aimed at shaping a regenerative, well-being-centered future, with participants engaging in sessions focused on climate, circular economy, food systems, and social innovations.

Meanwhile, the AVPN conference in Hong Kong gathered over 1,500 delegates and 300 speakers, highlighting Asia’s urgent role as a driver of global impact and the need for local philanthropic and investment leadership as western aid recedes. The feedback underscored Hong Kong’s position as a “super connector” capable of channeling capital to where it is most needed, and participants, especially family offices, noted the strong sense of responsibility embraced by the Asian impact community to remain steadfast in their commitments despite global uncertainty.

Family offices steady the course as trade tensions test global ...
https://www.ifcreview.com/news/2025/september/family-offices-family-offices-steady-the-course-as-trade-tensions-test-global-portfolios-citi-reveals/

Citi Wealth Releases 2025 Global Family Office Report
https://www.citigroup.com/global/news/press-release/2025/citi-wealth-2025-global-family-office-report

Global wealth in motion: what it means for family offices - Apex Group
https://www.apexgroup.com/insights/global-wealth-in-motion-what-it-means-for-family-offices/

Global family offices shifting toward co-investments, luxury assets
https://www.marketsgroup.org/news/global-family-offices-shifting-toward-co-investments-luxury-assets

The Editor's Post: The impact potential of family offices: their wealth
https://www.pioneerspost.com/news-views/20250919/the-editors-post-the-impact-potential-of-family-offices-their-wealth-and-their