Family offices are the most bullish they've been in years, putting their cash to work in stocks and alternatives as the Fed starts to cut interest rates, according to a new survey.
Nearly all family offices, 97%, expect positive returns this year, and nearly half expect double-digit gains, according to Citi Private Bank's 2024 Global Family Office Survey.
With interest rates heading down, family offices are also regaining their appetite for stocks.
More than a third, 39%, of family offices plan to increase their allocation to developed-market equities, mainly the U.S., while only 9% plan to trim their equity exposure.
That comes after 43% of family offices increased their exposure to public stocks last year.
Persons:
Robert Frank, they've, Hannes Hofmann
Organizations:
Citi, Citi Private Bank