Over half of Asia-Pacific family offices have seen assets under management (AUM) growth despite challenging conditions, reveals the Asia-Pacific Family Office Report 2023 by Raffles Family Office and Campden Wealth. The survey included 330 global family offices, with 76 from Asia-Pacific. Among them, 58% reported an AUM increase, with 32% exceeding a 10% rise. These offices’ combined wealth stands at USD68bn, with a focus on innovative asset-allocation strategies to combat inflation and rising interest rates. In 2023, 36% pursued growth strategies, a figure expected to hit 43% in five years. Kwan Chi-man of Raffles Family Office notes a generational shift in control and strategy, with an increased focus on real estate and private markets, including private equity and debt.