Over half of global family offices rebalanced portfolios during Covid-19 – The National

Over half of global family offices rebalanced portfolios during Covid-19 – The National

More than three-quarters saw portfolios perform in line with or above benchmarks, UBS says

















Family offices typically have a strong risk appetite and are exploiting current market opportunities for higher returns. Silvia Razgova / The National)







More than half of family offices globally rebalanced their portfolios in March, April and May to manage risk from the market sell-off, according to Swiss bank UBS.



Family offices largely stuck to their long term strategic asset allocation, but also made tactical allocations of up to 15 per cent of their portfolios to take advantage of market opportunities, which helped more than 77 per cent perform in line with, or better than, target benchmarks during the 12 months to May.



Two thirds of respondents to UBS' Global Family Office Report said that their midterm view has not changed despite the economic disruption caused by Covid-19, the UBS report said.





"Family offices have behaved differently to others during one of the most volatile periods in the history of financial markets. In some senses, we saw them take an institutional approach, applying meticulous asset allocation strategies and rigorous investment processes. However uncomfortable it may have