Family offices now rank inflation as their primary worry, yet equities continue to be their preferred choice for deploying fresh capital. Based on the 2026 Global Family Office Report from Citi Wealth, 46% of these institutions increased their public equity holdings during the previous year.
The polling encompassed 351 family offices spread across 41 nations. Looking ahead to the coming year, 37% plan to increase exposure to developed-market equities, compared to just 3% intending to do the same for digital assets.
Inflation Climbs the Worry List While Stocks Collect the Cash
Data from Citi indicates that 63% of participants identified inflation as their principal anxiety, rising from 37% in 2025. Conversely, concerns surrounding tariffs—which topped the list last year—dropped from 60% down to 18%.
Such anxieties have failed to trigger a sell-off in equities. Findings reveal that a mere 12% of family offices decreased their public equity exposure over the preceding 12 months.
Furthermore, the net growth in public equity investments exceeded the 2025 survey’s figure by 23 percentage points. Looking forward over the next 12 months, a mere 5% of family offices intend to scale back their positions in global developed equities.
Alexandre Monnier, who leads family office advisory at Citi Wealth, explained to CNBC that asset allocations have not moved as drastically as inflation anxieties have.
“I think family offices are becoming more sophisticated and see risk management as something more active that allows you to stay invested during periods of uncertainty, instead of having to retrench the way they might have done it historically,” he said.
A comparable preference for equities is visible across American household balance sheets. Equities currently account for 39.9% of total household net worth, representing the highest proportion ever recorded by the Federal Reserve.
During the same period, home equity declined to 19.3%, resulting in a 20.6-point differential between these two asset categories.
Crypto Clears the Barrier Test but Misses the Shopping List
Digital currencies have not enjoyed the same enthusiasm as stocks. While 3% of family offices intend to boost their holdings, 14% anticipate reducing their digital asset positions throughout the upcoming year.
These anticipated reductions arrive despite 46% of participants informing Citi that they face no major hurdles to increasing investments in this space. The obstacle mentioned most frequently was an absence of internal knowledge or governance structures, cited by 27% of respondents.
North American offices highlighted this shortage most frequently at 34%. Citi noted that despite these low hurdles, allocations have not yet risen in any notable manner.
Whether those projected reductions actually materialized will be revealed in the subsequent annual survey by Citi.
Subscribe to our YouTube channel to watch leaders and journalists provide expert insights
Frequently Asked Questions
What is the primary concern for family offices according to the Citi Wealth report?
Inflation is now the leading concern for family offices, cited by 63% of respondents, up from 37% in 2025.
Are family offices selling off stocks because of these concerns?
No. Only 12% of family offices reduced their public equity exposure over the past year, and 46% actually increased it.
What are family offices planning to do with digital assets?
While 3% plan to increase their exposure to digital assets over the next year, 14% expect to cut their holdings.
What is the main obstacle preventing family offices from investing in crypto?
The most cited obstacle is a lack of internal expertise or governance frameworks, named by 27% of respondents.
