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Ultra-rich waiting to unleash stockpile of cash; interest in cryptocurrencies wanes: Goldman Sachs

FILE PHOTO: The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly/File Photo REUTERS

SINGAPORE - Family offices that manage money for the ultra-rich are not sitting on their cash, but getting ready to unleash the stockpile into public and private markets, while adding fixed income exposure to capture higher rate opportunities, Goldman Sachs said on Wednesday.

The Wall Street bank’s ‘Family Office Investment Insights Report, Eyes on the Horizon’ found that family offices have largely maintained their asset allocations despite major changes in the market, and are waiting to deploy capital when the right opportunities come.

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