UBS Survey: Family Offices Planning to Reduce North American Assets & Increase Allocation to China
N.R. Finch
A UBS survey shows top global family offices are trimming U.S. exposure and shifting toward China and emerging markets — the ultra-wealthy are quietly redirecting their money.
What exactly does this survey say?
UBS published its 2026 Global Family Office Report last Friday, covering 307 family offices across 30-plus markets.
The average net worth of surveyed offices: $2.7 billion — these are the world's top-tier family capital pools.
In plain terms = this is not a retail-investor poll. It is a collective signal from families managing billions.
Where is the money moving from — and to?
North American assets still make up the largest share of portfolios, but many offices plan to reduce that weight, diversifying toward Asia and Western Europe.
Respondents are "gradually tilting" toward emerging-market equities and infrastructure assets, while stepping up currency diversification.
This means → the flow is shifting from "all-in on America" to "spread the bets," with China as a key new destination.
Why move now?
UBS attributes the shift to two forces: Middle East conflicts and U.S. import tariffs imposed last year.
Together, these pushed family offices to rethink the old playbook of parking most capital in the U.S.
This reflects a broader turn: geopolitics and trade friction have moved from background noise to variables that actively reshape allocation decisions.
What does this mean for the ordinary investor?
Ultra-wealthy rebalancing is not a trade signal, but it is a weathervane — big money moves first, market narratives follow.
This means → if your own portfolio is heavily concentrated in dollar assets, it is worth asking: does the logic of diversification apply to you, too?
Content is for reference only, not financial advice.