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Family offices shift from cash to bonds and stocks in Q2 2024



In the second quarter of 2024, global family offices reduced their cash holdings to increase investments in fixed income and equities, according to a Citi Private Bank report. Despite delays in anticipated U.S. Federal Reserve rate cuts and high geopolitical tensions, these offices allocated 22.4% of their assets to fixed income and 35% to equities, with a preference for developed large caps. The Asia Pacific region saw a slight decrease in cash allocations to 27.2%, while fixed income and equities rose to 20.5% and 40.4%, respectively. Key investments included U.S. Treasuries and high-quality financial credits, alongside a growth in hedge fund allocations to 3.6%, focusing on multi-strategy and multi-manager funds.

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