Asia-Pacific families grow wealth faster on back of riskier assets like cryptocurrencies, report says

Family offices in the Asia-Pacific have seen their wealth grow faster than global peers this year, as they have shown a greater willingness to invest in private equity and risky new asset classes such as cryptocurrencies, according to the 2021 Global Family Office Report released on Wednesday. Twenty-nine per cent of these family offices in the region reported a significant increase in wealth over the last 12 months, more than the global average of 21 per cent, according to the Asia-Pacific edition of the report jointly launched by Raffles Family Office and research firm Campden Wealth. Family offices manage investment…