Family offices worldwide are moving cash into bonds and equities, with nearly half expecting returns above 10% over the next year, according to Citi Private Bank’s survey released on Sept. 18. The survey of 338 offices globally, half managing over USD500m, found Asia-Pacific family offices leading in increasing public equity allocations, with 68% boosting exposure compared to 32% in North America. Bond allocations were higher in Asia-Pacific and Latin America. U.S.-China relations topped concerns for Asia-Pacific offices, followed by market valuations and interest rates. Globally, the outlook for interest rates replaced inflation as the main worry for over half the respondents. Family offices with over USD500m in assets under management reported better performance than smaller ones.