Family Offices Reallocate Assets to Asia, Europe as US Tariffs Bite

Family offices worldwide are reallocating assets from the United States to Asia and Europe, driven by heightened tariffs, a declining US dollar, and overvalued equities. BNP Paribas Wealth Management’s latest survey, conducted between March and June 2024, shows a notable pivot towards Hong Kong, mainland China, Japan, and the EU.

Interest in Chinese technology surged following DeepSeek’s new AI models, boosting confidence across hardware, software, and energy sectors. So far in 2025, the Hang Seng Index has gained 25%, outpacing the S&P 500’s 4% rise, while the dollar’s DXY index has dropped 9.6% to 98.11.

Asia-Pacific family offices lead globally in succession planning, with a 65% uptake versus 55% in North America and 47% in Europe.