Eighty-three percent of family offices in Asia Pacific anticipate investment returns exceeding 5 percent this year, yet investors are advised to remain cautious of geopolitical risks, according to Citi's 2025 Global Family Office Report.
It is one of the regional findings of the annual survey which gathered insights from a record 346 family offices across 45 countries, with 29 percent based in the Asia-Pacific region. It was conducted in June and July 2025.
High-net-worth clients are optimistic about their portfolio performance. Among five major asset classes, the proportion of respondents increasing their allocations surpassed those decreasing them. Private equity drew the strongest interest, with 36 percent of families adding exposure, followed by public equities, which were boosted by 34 percent.
Most family offices reported positive returns in the first half of the year: 59 percent achieved gains between 0 and 10 percent, 20 percent earned 10 percent to 20 percent, and 5 percent saw returns above 20 percent. Only 16 percent recorded losses. Among Asia-Pacific family offices, 55 percent gained 0-10 percent, 18 percent made 10-20 percent, and 10 percent surpassed 20 percent.
Citi recommends clients stay fully invested but maintain a neutral risk stance. Within equities, it suggests overweighting high-quality large-cap companies with long-term growth prospects, while underweighting small and mid-cap stocks vulnerable to economic cycles and tariffs. Given global uncertainty around tariffs, interest rates, and growth, the bank also advises a focus on high-grade, short-duration bonds to improve portfolio resilience.
