A growing trend in Asia, family offices help stave off acrimony among Asia's wealthiest, while safeguarding their ever-evolving portfolio of investments.
Family businesses in Hong Kong are increasingly keen to invest in projects that have strong environmental, social and corporate governance (ESG). But they must have a proper governance structure of their own in place to manage the risks and avoid conflict between family members, analysts said.
A REVIEW of the potential changes to the variable capital company or VCC framework is still underway, even as the spectre of the Archegos blowup continues to hang over the financial industry and raise questions on regulatory oversight.
Pan-Asia oriented Raffles Family Office is focusing on the wealth creation needs of the Chinese mainland’s second-generation billionaires, as it builds up a family office ecosystem. Oswald Chan reports from Hong Kong.
One of the club’s key milestones in the past year was striking a strategic partnership with Raffles Family Office (RFO), a multi-family office with operations in Singapore, Hong Kong, Shanghai and Taiwan. The club took the initiative to reach out via LinkedIn, with the intention to tap on the office’s resources and wisdom, to learn more about the field.
Founder and CEO Chi Man Kwan told Citywire Asia that the company is ‘putting resources’ into cryptocurrency, saying it views digital assets, including non-fungible tokens, as a valid asset class.
"Authorities need to take the initiative to make Hong Kong attractive," said Chiman Kwan, chief executive of Raffles Family Office, which manages $2 billion.