According to the UBS Global Family Office Report 2026, UBS surveyed 307 family offices across more than 30 markets with an average net worth of $2.7 billion (UBS report; survey period 22 January to 30 March 2026, per WealthBriefing). For the first time in the study's history, 60 percent of respondents said they plan to adjust their strategic asset allocation over the next 12 months (UBS report). The survey finds growing moves toward broader diversification across regions, currencies, and asset classes and rising interest in long-term thematic allocations. The report states that 65 percent of family offices have invested across the AI value chain, from data centers to semiconductor manufacturers (Finews/UBS). Benjamin Cavalli commented, "The report shows that family offices continue to adjust portfolios in a measured and disciplined way" (UBS, quoted in WealthBriefing). Editorial analysis: This survey indicates increased capital flows into AI and multi-currency strategies among large private portfolios, which matters for asset managers and infrastructure providers.
What happened
According to the UBS Global Family Office Report 2026, 307 family offices across more than 30 markets were surveyed, representing an average net worth of $2.7 billion (UBS report; WealthBriefing). Per the same report, 60 percent of respondents said they plan to adjust their strategic asset allocation over the next 12 months, the highest level recorded in the study's history (UBS report; Finews; WealthBriefing). The survey reports a shift toward broader diversification across regions, currencies, and asset classes, with increased allocations to alternatives such as infrastructure, private markets, and emerging market equities (UBS report; WealthBriefing).
What happened (continued)
The UBS report highlights thematic interest in artificial intelligence: the study states that 65 percent of family offices have invested across the AI value chain, covering data centers, software platforms, and semiconductor manufacturers (Finews; UBS summary). The report also documents a currency-positioning shift: 65 percent of respondents expect weakening confidence in the US dollar's reserve status, prompting adoption of multi-currency frameworks with the euro and Swiss franc cited as alternatives (WealthBriefing; UBS report). Benjamin Cavalli said, "The report shows that family offices continue to adjust portfolios in a measured and disciplined way" (UBS, quoted in WealthBriefing). Yves-Alain Sommerhalder said, "Artificial intelligence remains the defining investment theme of this decade" (UBS, quoted in Finews).
Editorial analysis - technical context
Industry-pattern observations: Large private investors increasing allocations to AI typically span multiple segments of the value chain, from data-center capacity and cloud infrastructure exposure through to chipmakers and enterprise software. For practitioners, that mix raises demand signals across compute, storage, and specialized silicon procurement, and it increases appetite for managers offering access to late-stage AI infrastructure investments rather than pure-play model development.
Context and significance
The combination of geopolitical risk, recession concerns, and currency-fragmentation anxiety is driving a measured rebalancing rather than wholesale portfolio shifts, per UBS's survey findings (UBS report). For asset managers and allocators, the report signals sustained appetite for alternatives and targeted thematic exposure to AI, even amid elevated valuations. Observed patterns in similar surveys show that family offices often favour private markets and direct investments when seeking diversification and yield, which can lengthen investment horizons for infrastructure projects.
What to watch
- •Changes in reported allocations to emerging market equities and private infrastructure in UBS's next periodic survey, which will indicate whether the tilt away from developed-market real estate becomes durable.
- •Aggregate disclosures of AI-related direct investments by private family vehicles and co-investments that could affect demand for data-center capacity and specialized hardware.
- •Shifts in currency-hedging practices and multi-currency treasury frameworks among large private portfolios, which influence cross-border capital flows and FX hedging markets.
- •Governance and succession planning gaps highlighted in the UBS report, which may affect long-term capital commitments from family offices.
Practical takeaway
For practitioners, the UBS survey provides a data point that major private capital holders are treating AI as a long-term thematic allocation while simultaneously prioritising diversification across currencies and regions. That dual trend has implications for fund-raising, product design, and infrastructure supply chains.
Scoring Rationale #
The UBS survey is a notable indicator of capital flows among large private investors: it highlights durable interest in AI and a measurable shift toward diversification and multi-currency strategies. This matters to asset managers, infrastructure providers, and allocators, but it is not a paradigm-changing market event.
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