NEW YORK, Sept 12 - Wealthy families loaded up on bonds and private equity investments in the first half of the year while slashing their stock exposure, according to a survey by Citigroup's private bank.
"Family offices are focused on high-quality companies in traditional industries, with positive cash flows," Hannes Hofmann, who runs the global family office group at Citi Private Bank, said in an interview.
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Wealthy families pile into bonds, private equity while shedding stocksWealthy families loaded up on bonds and private equity investments in the first half of the year while slashing their stock exposure, according to a survey by Citigroup's private bank. More than half of the 268 family offices polled, accounting for a combined net worth of $565 billion, increased their allocations in fixed income, while 38% boosted their private equity holdings. The shifts were the largest since Citigroup began the study in 2020.
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