The Ultra-Rich Fear Inflation Now. What Are They Buying?
Inflation now tops family offices‘ list of concerns, yet stocks remain their favorite destination for new capital. Some 46% raised public equity exposure over the past year, according to Citi Wealth’s 2026 Global Family Office Report. The survey covered 351 family offices in 41 countries. For the next year, 37% expect to add developed-market equities, against 3% for digital assets. Sponsored Sponsored Inflation Climbs the Worry List While Stocks Collect the Cash Citis report shows 63% of respondents named inflation their top concern, up from 37% in 2025. Tariff worries, which led last year, fell to 18% from 60%. Those concerns have not translated into equity selling. The survey shows only 12% of family offices cut public equity exposure in the past 12 months. The net increase in public equity allocations was also 23 percentage points larger than in the 2025 survey. Over the next 12 months, only 5% of family offices plan to reduce their allocation to global developed equities. Alexandre Monnier, head of family office advisory at Citi Wealth, told CNBC that allocations had not shifted as sharply as inflation fears. “I think family offices are becoming more sophisticated and see risk management as something more active that allows you to stay invested during periods of uncertainty,









