While they generally had a more cautious investing strategy, the study discovered that North American family offices have reported higher portfolio allocation to health care tech (71%), biotech (62%), fintech (59%), digital tech (52%), and green tech (50%).
According to Rebecca Gooch, Campden Wealth’s senior director of research, “It is fascinating to discover that roughly one-in-four family offices in North America invest in the metaverse, one-in-10 in NFTs and more than a quarter in Web 3.0, and that these are all areas that family offices plan on allocating more to in 2023.”
However, she added, North American families continue to view the proven asset classes as an essential component of a balanced portfolio even as they go more into these new asset classes.
The study indicated that North American family offices value sustainable investing more and more, with 37% of them now participating and 77% of them concentrating specifically on climate change mitigation.
According to the research, younger family members have been the main force behind this trend, and their influence is only increasing as a result of a significant generational shift.
