More Than Half Of Indian Business Scions Join Family Office

Successors at more than half of Indian business families have a role in the family office or wealth management, according to a report by Edelweiss and Private Wealth and Campden Family Connect.

About 58 percent of the families are interested in setting up a family office and half of the 78 ultra-high net worth families—with average wealth of $645 million and an average family office assets under management of $318 million—are doing so, according to the report.

They prefer to invest in fixed income and equities and have a keen interest in private equity or venture capital opportunities. About 95 percent of these families contribute to philanthropy, mostly to for education and poverty alleviation.