A survey of North American family offices conducted by Campden Wealth and RBC found that family offices had 29.2% of their investments in private markets, which include private equity, venture capital and private debt, compared to 28.5% in publicly traded stocks.
It marks the first time in the survey that family offices had more invested in private markets than public stock.
"Family offices have maintained a consistent pattern of augmenting their allocations to private markets," according to the study.
Family offices say private markets offer better returns over the long term without the volatility of stocks.
Along with private markets, family offices are also showing increasing interest in alternative assets, including real estate and commodities.
Persons:
Angie O'Leary
Organizations:
Campden Wealth, RBC, RBC Wealth Management
Locations:
New York City, China, North America