Key Takeaways
- • JPMorgan Private Bank's 2026 Global Family Office Report, surveying 333 single-family offices in 30 countries from May to July 2025, finds AI is the top investment pick, with approximately 65% of respondents prioritizing AI exposure now or as a future allocation.
- • Only 17% of family offices cite blockchain and cryptocurrency as a major investment theme, and almost 90% report no crypto exposure; crypto allocations average just 0.4% of portfolios and Bitcoin about 0.2%.
- • 72% of respondents say they own no gold, and geopolitics ranks as the top global risk at 20%, yet hedging appetite remains limited according to JPMorgan.
- • Private equity is the most preferred asset class, with 37% of respondents planning to increase allocations over the next 12 to 18 months.
Summary
Wealthy family offices are concentrating new capital on artificial intelligence and private equity while largely avoiding cryptocurrencies and gold, according to JPMorgan Private Bank's 2026 Global Family Office Report. The survey covered 333 single-family offices across 30 countries and was conducted from May to July 2025. AI-related investments ranked as the top pick, with roughly 65% of respondents saying they are prioritizing AI exposure either now or as a future allocation.
Digital assets remain marginal in family office portfolios. Only 17% of respondents identified blockchain and cryptocurrency as a major investment theme, and almost 90% said they had no crypto exposure. Crypto allocations averaged 0.4% of global portfolios, with Bitcoin exposure lower still at about 0.2%. Other secondary coverage of the survey notes that family offices remain bullish on AI but are increasingly concerned about a spike in inflation and interest rates.
The survey also points to limited appetite for traditional hedges. Some 72% of respondents said they do not own gold. Geopolitics was named the biggest global risk by 20% of respondents, followed by trade policy and liquidity constraints at 12% each. Asset valuations, economic growth risks and portfolio concentration were also cited as factors affecting allocation decisions. JPMorgan characterized the appetite for hedges as limited despite the uncertainty in the economy.
Private equity emerged as the most preferred asset class, with 37% of respondents aiming to increase allocations over the next 12 to 18 months. More than half of respondents said they have no current exposure to growth equity or venture capital, which are typically the main channels for early-stage AI development, although interest in those strategies is growing.
Digital assets remain marginal in family office portfolios. Only 17% of respondents identified blockchain and cryptocurrency as a major investment theme, and almost 90% said they had no crypto exposure. Crypto allocations averaged 0.4% of global portfolios, with Bitcoin exposure lower still at about 0.2%. Other secondary coverage of the survey notes that family offices remain bullish on AI but are increasingly concerned about a spike in inflation and interest rates.
The survey also points to limited appetite for traditional hedges. Some 72% of respondents said they do not own gold. Geopolitics was named the biggest global risk by 20% of respondents, followed by trade policy and liquidity constraints at 12% each. Asset valuations, economic growth risks and portfolio concentration were also cited as factors affecting allocation decisions. JPMorgan characterized the appetite for hedges as limited despite the uncertainty in the economy.
Private equity emerged as the most preferred asset class, with 37% of respondents aiming to increase allocations over the next 12 to 18 months. More than half of respondents said they have no current exposure to growth equity or venture capital, which are typically the main channels for early-stage AI development, although interest in those strategies is growing.
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