高盛:近半受訪家族辦公室今年擬增持股票
高盛最新發表的報告指出,家族辦公室的風險置產配資產中,公開市場股票及私募股權合共佔比達到54%;另有32%受訪家族辦公室指出有投資數字資產,當中最大的理由是“相信區塊鏈科技的實力”。
值得注意的是,高盛在今年1月17日至2月23日期間訪問了166家機構家族辦公室,其中93%淨資產逾5億美元,而淨資產逾10億美元比率爲72%。
在風險資產配置中,高盛指出,28%投放於公開市場股票,26%風險資產爲私募股權。不包括美國國庫債券的現金/現金等價值佔比爲12%,固定收益佔比爲10%,私人房地產地產和基礎設施的投資佔比爲9%。對衝基金﹑私募信貸及大宗商品比率,分別爲6%﹑3%及1%。
報告數據顯示,家族辦公室將較多資金投放在資訊科技及醫療保健,因有關行業具增長主題,可經受起商業週期考驗,在長期推動價值增長。
與此同時,48%受訪的家族辦公室表示,今年擬增加公開市場股票配置,41%會增加私募股權。另有35%受訪者表示有意減少對現金和現金等價配置,並降低公開市場股票配置比率爲10%,另有13%會降低私募股權配置。
此外,住宅房地產對家族辦公室仍具吸引力,約3分之1的家族辦公室計劃在未來12個月擴大對該行業的投資,另有30%預計將保持現有投資。不過商業房地產,尤其是寫字樓和零售物業的吸引力則有所下降。只有7%的家族辦公室尋求增加對寫字樓的投資,4%想增加對零售物業的投資,而尋求減少對這些行業投資的家族辦公室分別佔12%和10%。
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