Family Offices Are Under-Invested Bulls: Citi

Are wealthy private investors still suffering from a crisis of confidence harking back to the 2008-2009 meltdown? It would seem so, judging from a new survey of 50 large family office representatives by Citi Private Bank.

Family office survey findings

The poll found a strange dichotomy in the views expressed by the respondents. While 65% felt that the market would gain by 10% over the coming year, this optimism was not reflected in their portfolios – these showed that the lion’s share of the respondents had allocated less than 30% to public stocks.

And because 60% of these same investors believed that U.S. interest rates would rise 50 basis points in the coming year, not surprisingly,...