Family offices prepare for more volatility but position for opportunity
As market uncertainty intensifies, family offices are building resilience into portfolios, but they are also keeping capital ready to deploy when opportunities emerge
Family offices have always had to manage complexity and volatility but our latest Schroders Global Investor Insights Survey findings suggest the next phase of portfolio construction will be defined by a more deliberate balance between caution and conviction.
The survey, which questioned 93 family office respondents, revealed that this group is highly alert to macroeconomic and geopolitical risk, yet their response is not simply to retreat from markets. Instead, family offices appear to be preparing for a more volatile world by holding greater flexibility, leaning into active management, increasing diversification and continuing to build exposure to private markets.
Read the full results of the Schroders Global Investor Insights Survey 2026
More volatility is expected but opportunity remains the focus
The clearest finding from our research is that family offices see volatility as a defining feature of the year ahead; 85% expect the next 12 months to be more volatile than the previous 12 months.
Do you think the next 12 months will see greater market volatility than the past 12 months?
Source: Schroders Global Investor Insights Survey 2026, Family office respondents (93) only
This has prompted some defensive action. 43% say they are moving into defensive assets such as cash or short-duration instruments, while 40% are increasing geographic diversification outside the US.
The more interesting finding is that family offices are not simply de-risking. 53% say they are looking for buying opportunities in response to volatility. This points to a more nuanced playbook: protect capital, preserve liquidity and remain ready to act when markets dislocate.
Considering your expectations for market volatility over the next 12 months, which of the following portfolio changes are you making or planning to make?
Source: Schroders Global Investor Insights Survey 2026, Family office respondents (93) only. Note: respondents were asked to select up to 3 answers.
Resilience comes first but growth remains important
Family offices’ investment priorities show a clear hierarchy. 85% identify downside protection or capital preservation as a key objective, while 82% cite portfolio diversification. Capital growth remains important, cited by 67%, but it sits behind protection and diversification.
What are your primary portfolio objectives in the current environment?
Source: Schroders Global Investor Insights Survey 2026, Family office respondents (93) only. Note: respondents were asked to rank top 3; percentages refer to inclusion in their top 3.
This is not a traditional “risk-off” mindset. Family offices still want growth but they want it within a portfolio that is better able to absorb shocks.
That also helps explain the strong interest in real assets. If there is a rotation away from AI and technology, 52% of family offices say real assets such as real estate and natural resources could provide returns and diversification. 41% point to energy, including the energy transition, while 39% cite value-focused strategies.
The finding suggests family offices are not simply looking for the next growth theme. They are looking for assets and strategies that can provide diversification, inflation sensitivity and resilience in a more uncertain market environment.
Active management is central to the playbook
One of the most striking findings is the level of confidence family offices have in active management. 91% are confident that active management can help them achieve their investment objectives over the next 12–18 months.
Looking ahead to the next 12 to 18 months, how confident are you that active management can help achieve your investment objectives?
Source: Schroders Global Investor Insights Survey 2026, Family office respondents (93) only.
Family offices value active management for its ability to capture outperformance opportunities, cited by 59%, but also for diversification, nimbleness and access to specialist approaches. 46% cite the ability to deliver specialist approaches and exposures, and the same proportion point to the ability to navigate uncertainty.
This suggests family offices are not thinking about active management only to beat a benchmark. They are using it as a tool to manage complexity.
Private markets continue to move into the core
The private markets findings are among the most powerful in the survey. Today, 37% of family offices allocate more than a quarter of their overall equity portfolio to private equity. Looking ahead, 47% expect private equity to represent more than a quarter of their equity portfolio over the next 12–24 months.
Approximately what proportion of your overall equity portfolio is allocated to private equities - today and in 12-24 months?
Source: Schroders Global Investor Insights Survey 2026, Family office respondents (93) only.
That is a striking signal. For many family offices, private equity is no longer a satellite allocation at the edge of the portfolio. It is becoming a core component of the equity book.
Private credit is also growing, although more selectively. Today, 20% allocate more than a quarter of their overall credit portfolio to private credit. Over the next 12–24 months, that rises to 27%.
Alex Ross-Parkinson, Head of Family Office BD, said: "The findings of our survey highlight a clear shift in mindset: family offices are preparing for a more uncertain world, but not by standing still. They are strengthening portfolio resilience, embracing active management and continuing to invest in private markets, reflecting a belief that periods of volatility often create some of the most compelling long-term opportunities."
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