Super rich, change, cash

In the past, the global market has been in high tide for a while, and the prospects are unclear

From the rich family to the investment in Dasha, they have all deployed to cope with the crisis and even find opportunities to make money in troubled times. According to a survey by Swiss banks, more than half of the Family Office expects a global recession next year, with particular concern for emerging markets, while 42% of respondents said they are increasing their cash reserves.

The global economic outlook is unclear, with 42% of respondent family offices saying they are increasing their cash reserves

The family office is responsible for managing and inheriting huge wealth for the super rich and their families. They have become a new force in the investment market in recent years. It is estimated that they currently manage about 5.9 trillion US dollars (about 46 trillion Hong Kong dollars) of assets.

Plus private equity and real estate projects

UBS’s “Nine-Near Global Family Office Report” shows that in addition to increasing cash, these family offices are also pursuing alternative investments, with 46% of respondents reporting that they will increase direct private investment, 42% and 34% respectively. Invest in private equity funds and real estate projects.

In fact, the above investment has performed well in the past year. The average return on direct private investment and private equity funds was 16% and 11% respectively. The average return on real estate was also 9.4%, and the ratio of portfolio investment increased from 2.1% in the previous year. 17%. The survey was conducted from February to March this year. The average managed assets of 360 family offices were approximately $917 million, compared with an average return of 5.4% over the past 12 months.

Timothy O’Hara, president of the Rockefeller Global Family Office, said that super-rich investors are increasingly cautious and worried about the stock market and are beginning to consider increasing private investment, alternative investments or holding more cash. Rick Stone, a former partner of the law firm and currently head of the Stone family office, said that the current allocation of funds is in a difficult time, because he expects the bond will not bring any real return in the next decade, and the stock market may suffer significant losses. It will only be stable. He also pointed out that too many venture capitalists and private equity funds are currently chasing few investment opportunities.

On the other hand, according to foreign media reports, Paul Singer, a well-known American rights activist hedge fund fund, is preparing to take the plunge after the “market collapse." His managed Elliott Management has recently increased its investment in ammunition, and in August it has completed the formation of a $2 billion co-investment fund aimed at privatizing businesses. It is reported that Elliott, which currently has assets of US$38.3 billion, may conduct a new round of fund raising, with a scale of US$5 billion.

Singer successfully raised $5 billion in the first two days of the year and became a market story. In July, he warned that the global financial system is at a high risk side in terms of debt, and the economy is facing a sharp downturn crisis. Its pessimistic forecast and “new The debt king, Gundlach coincides. Gundlach also recently warned that before the presidential election next year, the United States had a 75% chance of falling into recession, and the World Bank had earlier lowered its forecast of global economic growth for the past nine years to the slowest since the financial tsunami.

Gold ETF holds the most in six years

Under the uncertainty of the market, gold continues to play a safe-haven role in the market. According to foreign statistics, the gold exchange-traded fund (ETF) held gold on Monday increased by 15.5 tons to 2,494 tons, a record high since February 2013, and a total increase of nearly 27 tons last week. As for Dow’s world’s largest gold ETF, SPDR Gold Shares last week attracted 950 million US dollars, the most in three months. In contrast, the US stock ETF-SPDR indexed ETF Trust invested 8.7 billion US dollars in 18 months. The most hurt.

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