The Family Roundup #4

67% of HNWIs prioritised wealth preservation as a critical objective 

Source: Capgemini World Wealth Report 2023 

NEWS 

DBS LAUNCHES MFO SERVICE 

Singapore’s DBS Private Bank has launched the DBS Multi Family Office Foundry VCC (DBS MFO), the world’s first bank-backed multifamily office that leverages Singapore’s Variable Capital Company (VCC) structure. (DBS) 

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INSIGHTS   

WORLD WEALTH REPORT 2023: CAPGEMINI 

The report highlights a decline in HNWI wealth and population in 2022 from the previous year, dropping by 3.6% and 3.3%, respectively. Market uncertainties have prompted a shift from growth-oriented investments to wealth preservation, necessitating careful cost management, exploring new value pools, investing in technology, and more such measures. (Capgemini)  

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INSIGHTS 

NORTHERN TRUST AND WHARTON GLOBAL FAMILY ALLIANCE SURVEY FINDINGS 

The report covers topics like geopolitical and economic uncertainty, financial performance & investment management, and environmental, social & governance investing. It mentions that respondents selected inflation, the possibility of recession, and geopolitical risk as top concerns and that succession plans are rare, with only one-third of respondents having a formal succession plan in place for either the family office or the family itself. (Northern Trust and Wharton Global Family Alliance)  

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INSIGHTS 

THE NEW ERA OF SUSTAINABLE INVESTING 

The article looks into how generational value and regulations are shaping impact investing. As we see a burgeoning interest in ESG, family offices can lead in sustainable investments by aligning with the next generation’s focus on ESG issues and adapting to regulatory requirements. Family offices should develop tailored strategies, ensure compliance, monitor investments, and embrace the evolving landscape to drive long-term value and make a positive impact. (Forbes) 

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INSIGHTS   

WHAT TO CONSIDER WHEN SETTING UP AN SFO: RBC 

RBC offers advice on the things to consider when setting up a Single-Family Office, with key questions to consider and how to select the jurisdiction. It also looks at understanding the purpose of a family office and how to make sure your family office is designed to successfully serve its purpose. (RBC) 

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