The Swiss bank UBS, a global wealth manager, stated in a report on Thursday (May 28) that many family offices are considering reducing their exposure to the US dollar or diversifying regionally amid rising geopolitical risks. A family office is essentially a private wealth management advisory firm that serves ultra-high-net-worth individuals (UHNIs) and their families in managing and growing their wealth across generations. Often, family members hold a share in most of the family offices’ assets. In India, too, outbound investments routed through family offices for HNIs are now a topic of discussion amid the broader outbound fund flows. Drawing on insights from 307 family offices across more than 30 markets, the report highlighted a notable shift in currency positioning. “Sixty-five percent of family offices expect confidence in the US dollar’s reserve status to weaken, with many reassessing exposure to USD-denominated assets,” the report said.…