The survey provides a comprehensive and completely independent overview of the key issues facing single family offices now and in the near future. The study revealed a valuable snapshot of current trends and new developments, including:
- Affects of the credit crunch - how family offices fared and how they are dealing with the repercussions
- Investment management – manager selection and monitoring, reporting transparency, managing international family assets, pricing, compliance and communication
- Asset Allocation – asset classes, direct investments, alternative investments, risk management
- Family office structure – background, size, asset data, assets under management, family participation and objectives
- Family governance and the role of the SFO – the role of committees, communication with family members, due diligence and the future of the family office
- Relationships with external provider, selection criteria, SFOs attitudes to co-investing
The financial and economic landscape has changed substantially in the past 12 months and SFOs have evolved to meet the new demands of these tough times. The majority of SFOs have significantly adjusted their portfolios to limit further damage from the downturn while asset allocation and manager selection processes are in sharp focus. We are already seeing early indications that the events of 2008 may have much farther-reaching consequences for this community. Our main conclusions and predictions, based on the findings of the Merrill Lynch/ Campden Research European Single Family Office Survey 2009, are set out in the report.
This in-depth report contains a detailed analysis of the single family office's evolution to meet the needs of today's business world. Amidst the backdrop of one of the most important years in recent financial history, this research is a vital read for any family office or service provider to family offices.