本报告为花旗《2026/27全球家族办公室报告》，基于对40多个国家351家家族办公室高管的调查，围绕投资情绪、组合定位与家族治理展开分析。报告以资本、能力、传承三大主题贯穿：资本方面，近九成受访者年内投资组合取得正收益，41%继续以7%至10%的年化回报为目标；通胀取代贸易摩擦成为首要担忧，公共股票重回配置主导地位，近半数受访者增加股票配置，私募市场仍是战略支柱。能力方面，家族办公室加速机构化，人工智能在12个月内从试验转向更广泛应用，重点提升生产率而非创造超额收益。传承方面，约三分之一受访者预计未来五年内家族、家族办公室或家族企业将发生领导层更替，但准备程度参差不齐。此外，38%受访者预计未来五年家族全球化程度上升，跨境税务与合规协调日益重要。报告认为领先家族办公室正展现机构投资者特征，未来将演变为传承型组织。
The 2026 Global Family Office Report, based on a survey of 351 family offices across more than 40 countries, tells a story in three words: capital, capability and continuity. On capital, family offices expressed confidence despite shifting macroeconomic indicators and geopolitical concerns—nearly nine in ten respondents reported positive portfolio performance year-to-date, 41% continue to target annual returns of 7% to 10%, and most maintain significant drawdown tolerance. Inflation became the leading concern, followed by interest rates and financial system stability, while trade disputes and tariffs declined as sources of worry. Public equities returned to leadership, with nearly half of respondents increasing public equity exposure, though private markets remain a strategic pillar and direct investing remains widespread. On capability, family offices are applying institutional disciplines across broader functions, and AI has shifted from experimentation to implementation across inves