Investing in the Rich of this World: Family Investment Holdings and their Performance

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This paper investigates the characteristics and performance of family investment holdings across the world. Their unique combination of family wealth and expertise and investments in stock markets make them a special asset class for retail investors. We find that families are strongly involved in terms of stake and management both in their holdings and the holding’s investments. We further document a significant outperformance of family investment holdings globally and in Europe and a more contained performance on Asian markets. Holding characteristics and the economic environment appear to have some limited influence on performance.

Author(s):

Philippe Masset    
Ecole hôtelière de Lausanne, HES-SO // University of Applied Sciences Western Switzerland
Switzerland

Jean-Philippe Weisskopf    
Ecole hôtelière de Lausanne, HES-SO // University of Applied Sciences Western Switzerland
Switzerland