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China's newly wealthy families have increased their overseas investments in European properties and technology stocks in the US, according to research by UBS and Campden.
Enrico Mattoli, head of global family office in Greater China at UBS Wealth Management, said that family offices in Hong Kong and mainland China were increasingly seeking opportunities beyond Asia.
Interest - Investments - China - Family - Offices
"We've seen growing interest in overseas investments from China's family offices," Mattoli said at the Hong Kong release of the Global Family Office Report 2017.
The annual study, jointly published by UBS and Campden, tracks 262 family offices across the globe with an average of $921 million assets under management.
Trends - Estate - London - Cities - Radars
Among the big trends, he said real estate in London and other European cities have emerged onto the radars of wealthy Chinese families, as many see the retreat in property prices after the Brexit vote as "a good buying opportunity."
Moreover, large technology companies listed on US equity markets are also among favorites, Mattoli said. He cited Facebook and Netflix as among favored selections, while Chinese companies listed in New York, such as Alibaba and Baidu, were also garnering attention.
Offices - China - Entrepreneurs - Wealth - Towards
"Family offices in China are characterized by younger entrepreneurs or 'new wealth,' who are more likely to be oriented towards growth than asset preservation," he said.
He expects to see asset allocation favoring equities, private equity and real estate in the Greater China portfolios, as these assets provide attractive long term returns.
Report - Family - Offices - Hong - Kong
According to the report, family offices in Hong Kong and China have an exceptionally high allocation in real estate compared to other regions. In 2016, about 26% of Greater...
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