Three in four family principals and office heads in a new survey indicated a mostly cautious investment outlook for the coming 12 months, Citi Private Bank reported last week.
These investors’ cautious stance is informed by the continuing coronavirus pandemic and uncertainty about the kind of tax and monetary policy mix they might face.
At the same time, they are alert to opportunities and risks that the pandemic may generate, the survey found.
The online survey was conducted by the private bank’s Family Office Leadership Program from June 15 to July 8 among 179 participants from 103 countries, 71% of whom had family offices; the remaining 29% were ultra-high net worth individuals without a family office.
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Looking to 2021, about half of survey participants said they expected meager total portfolio returns in the next four quarters of 1% to 5%.
Asked what portfolio changes they now planned to make, 56% said “some tactical changes,” while only 14% said “significant portfolio changes.”