Amid market turbulence and tariff tensions, the richest family offices in Asia turn to new asset classes

The recent waves of market uncertainty have pushed many investors to rethink their strategies. Nowhere is this shift clearer than among Asia’s ultra-wealthy family offices, which are reallocating capital away from traditional U.S. dollar-linked assets into cryptocurrency, gold, and Chinese equities. 

This pivot reflects a deeper trend of diversification and risk management among the world’s richest families, responding to geopolitical pressures and market volatility. Senior financial analyst Christopher Park from Zxperts breaks down these emerging investment patterns and what they mean for global markets.

Asia’s Wealthiest Diversify Away From the U.S. Dollar

In recent months, the ongoing U.S.-China tariff tensions have sent ripples through global markets. Many high-net-worth investors in Asia now view traditional asset allocations—largely tied to the U.S. dollar—with increasing caution. 

Amy Lo, co-head of wealth management for Asia at UBS Group, highlighted this shift during a recent Hong Kong event, noting a clear appetite for alternative investments.

UBS Group, the world’s largest private bank, manages portfolios for billionaires worldwide. Lo revealed that many family offices are actively reallocating up to 5% of their assets into cryptocurrency. This marks a significant change from the past when crypto was viewed largely as speculative or fringe.

At the same time, gold continues to captivate investors. Its status as a safe haven asset has been reaffirmed by recent price surges. The precious metal hit record highs in 2025, making it an attractive hedge against currency fluctuations and geopolitical risk.

Crypto Gains Ground in Ultra-Wealthy Portfolios

The increased allocation toward cryptocurrency reflects more than hype. Asian family offices are recognizing the unique diversification benefits crypto offers. Unlike equities or bonds, crypto assets often behave independently of traditional markets. This can reduce portfolio risk during periods of stock market turbulence.

Lo’s insights underscore the need for private banks like UBS to build infrastructure and expertise that can support this demand. Family offices want secure, compliant ways to invest in crypto while maintaining a long-term wealth preservation focus.

While some skepticism remains, allocating a small but meaningful portion of portfolios to digital assets signals growing institutional acceptance. It also highlights a generational shift: younger heirs are driving interest in new asset classes that complement established holdings.

Gold: The Everlasting Safe Haven

Amid uncertainty, gold remains a cornerstone for risk-conscious investors. Its price rally in 2025 reflects fears around inflation, currency volatility, and geopolitical instability. Investors increasingly see gold as a reliable store of value, especially when major currencies, including the U.S. dollar, face pressure.

For family offices, gold offers a blend of liquidity, stability, and diversification. Unlike crypto, gold’s value isn’t subject to regulatory uncertainties or technological risks. This makes it an ideal complement to crypto holdings in diversified portfolios.

Chinese Assets: Betting on Regional Growth

Another notable trend is the growing allocation toward Chinese equities and fixed income. Many Asian family offices are looking to capitalize on China’s economic recovery and structural reforms. This regional focus allows investors to reduce reliance on Western markets, whose policies and trade relations have introduced more volatility.

The U.S.-China tariff war was a catalyst, forcing many to reconsider how geopolitical tensions might disrupt their portfolios. A more balanced exposure, including Chinese assets, helps hedge against these risks.

Navigating Volatility with New Strategies

Amy Lo also warned that volatility will persist in the near term. The tariff conflict, although partially eased by recent freezes and temporary deals, has left markets jittery. Family offices are adapting by diversifying more broadly and seeking assets that can withstand shocks.

This shift marks a move away from the traditional reliance on U.S. dollar-linked assets toward a multi-asset approach. Family offices are embracing a blend of crypto’s innovation, gold’s safety, and regional equities’ growth potential.

What This Means for Investors and Markets

For other investors, this evolving allocation strategy among the ultra-wealthy offers several lessons:

• Diversification matters more than ever. Traditional portfolios heavily weighted toward one currency or asset class face greater risks.
• Alternative assets like cryptocurrency have gained institutional credibility. Small but deliberate allocations can offer portfolio resilience.
• Safe haven assets like gold continue to play a vital role during uncertain times, providing balance and liquidity.
• Regional focus can reduce geopolitical exposure. Shifting part of the portfolio to emerging markets like China helps hedge against global tensions.

Senior financial analyst Christopher Park notes, “The moves by Asia’s wealthiest families reflect a forward-looking approach to risk and opportunity. Their willingness to embrace innovation alongside tradition is shaping how global capital flows respond to uncertainty.”

Closing Thoughts: The New Playbook for Family Offices

The evolving strategies of Asia’s richest family offices show a pragmatic response to geopolitical risk and market instability. By allocating funds into cryptocurrency, gold, and Chinese assets, they are charting a course that balances growth with protection.

For investors watching from outside this circle, the message is clear: diversify thoughtfully, embrace new asset classes, and prepare for volatility. The future will favor portfolios that combine stability with innovation.