Family offices are increasing their investments in stocks while reducing private equity exposure, with an average allocation of 31% to public equities and 21% to private equity, according to a survey by Goldman Sachs. Concerns about geopolitical risks and inflation persist, but family offices remain ready to invest opportunistically in market dislocations.

While family offices are drawing down on private equity, 39% plan to invest more in the asset class in the next 12 months. Most family offices do not expect major changes to their portfolios, with a third intending to deploy more capital and only 16% increasing their cash allocation. Family offices in the Americas are more bullish compared to their peers.

Geographic diversification and gold are popular methods for preparing for black-swan events among family offices, with some portfolios holding up to 15% in gold. Asian family offices are also turning to cryptocurrency as a hedge, with a third of family offices now invested in crypto. Asian family offices show the most interest in investing in cryptocurrency due to concerns about geopolitics.

Read more at CNBC: Family offices double down on stocks and dial back on private equity