Global financial markets are experiencing profound shifts due to geopolitical and structural uncertainties, leading family offices globally to reconsider their investment strategies. This emerges from UBS’s “Global Family Office Report 2026”, which surveyed 307 family offices across over 30 markets, together representing around $2.7 billion in net worth.
Significantly, this is the first time since the start of the study that 60% of participants expressed their intention to modify their strategic asset allocation in the coming year. The focus is shifting towards a broader diversification spanning regions, currencies, and asset types, coupled with an enhanced emphasis on long-term thematic investments.
A Growing Interest in Artificial Intelligence
The report reveals an increasing trend amongst family offices to adjust their portfolios in a calculated, disciplined manner, as explained by Benjamin Cavalli, Head of Strategic Clients & Global Connectivity at UBS Global Wealth Management. Several investors are diminishing their U.S. dollar exposure or diversifying more widely across regions, without fundamentally reevaluating their North American positions.
Artificial Intelligence (AI) is an area that continues to pique significant interest. As per the report, 65% of family offices have invested across the full AI value chain, starting from data centers and software platforms to semiconductor manufacturers. Despite high valuations, a considerable number of investors intend to increase or at least maintain their exposure.
“Artificial Intelligence continues to be the defining investment theme of this decade,” stated Yves-Alain Sommerhalder, Head of GWM Solutions at UBS. Family offices are taking a more discerning approach, merging growth opportunities with a heightened risk discipline.
Challenges in Governance and Succession Planning
Besides AI, investments in infrastructure and energy and commodities remain the preferred areas for family offices. Cryptocurrencies, however, remain a fringe allocation, with only 44% of invested family offices considering digital assets as part of their strategic asset allocation, but actual portfolio exposures are typically limited.
For Swiss family offices, the trend appears to be more conservative. They maintain widely diversified portfolios with a strong emphasis on Western Europe and North America, and they are making portfolio adjustments more cautiously compared to international peers. AI, energy, automation, and robotics also dominate amongst Swiss investors.
Despite these trends, there are noticeable gaps in governance and succession planning in many family offices. Only about one-third have a clearly defined succession plan, and a mere 27% are preparing the next generation in a structured manner for future leadership roles.
Questions & Answers
What’s the trend in asset allocation among family offices?
A majority of family offices are planning to adjust their strategic asset allocation in the next year, with emphasis on wider diversification across regions, currencies, and asset classes.
What’s the investment sentiment towards artificial intelligence?
Artificial Intelligence continues to be of high interest, with 65% of family offices having invested across the full AI value chain. Many plan to increase or maintain their AI exposure despite high valuations.
What are the challenges being faced by family offices?
A significant number of family offices lack clearly defined succession plans and structured methods for preparing the next generation for future leadership roles.
