UBS(US:UBS) Zheng Quan Shi Bao·2025-08-13 05:33Group 1: Investment Trends in Gold and Precious Metals - UBS reports that a record number of family offices are increasing their allocations to gold and precious metals this year, while reducing cash holdings [1][2] - The price of gold has risen significantly, reaching $3,300 per ounce, with 21% of family offices planning to increase their allocation to gold, up from 10-16% in previous years [2][3] - Investment demand for gold has surged, with a 78% year-on-year increase, leading to an upward revision of ETF demand expectations from 450 tons to over 600 tons for the year [3] Group 2: Interest in Greater China - There is a growing interest among global family offices in investing in Greater China, with 19% planning to increase investments in the region, a 3 percentage point increase from 2024 [1][4] - In the Asia-Pacific region, 30% of family offices intend to increase their investments in Greater China, up 6 percentage points from 2024 [4] - Over the next five years, 45% of Middle Eastern family offices plan to increase their investments in Greater China, indicating a strong trend towards this market [4] Group 3: Investment Strategies and Preferences - Family offices are shifting away from low-return cash holdings, with plans to hold only 6% in cash by 2025, while increasing investments in developed market equities [4] - Approximately 78% of Asia-Pacific family offices prefer active management strategies, focusing on specific sectors and regions [5][6] - Key sectors of interest include financial services, healthcare, and biotechnology, with a notable interest in virtual assets among younger generations of family office investors [6]