Profitability of family offices last year was 15,5%, which is higher than 7% in 2016 and 0,3% a year earlier, Bloomberg reports referencing to UBS Group AG and Campden Wealth. Offices in Asia are leaders: their return was 16,4% in 2017.

Data was received as a result of fifth annual survey of UBS and Campden, which allows getting more inside information on results of operation of family offices that manage wealth, tax affairs and often lifestyle of rich people.

Creation of family offices speeded up last decade due to increase in wealth of Asian citizens. According to UBS evaluation, new billionaire appears in China every two days. Today Asia is a home for one fourth of 500 most rich people in the world.

Out of 311 family offices that participated in the survey, 37% were created after 2010. Average size of assets was $808 million, while average wealth of a family was $1,1 billion.

There were 5000 family offices around the world. Three fourth of firms participated in the survey manage wealth for one family only.

UBS, which is the largest family office for wealth management in the world, describes family having $150 million as “an ideal candidate” for setting a family office. Bank managed assets valued 120 billion Swiss francs as of end of 2017.