Single family offices choose cash over equities

Investor Education will raise the allocation that family offices in Europe make to structured products and exchange-traded funds (ETFs), says Gary Dugan, chief investment officer for Europe, the Middle East and Africa at Merrill Lynch Global Wealth Management, and Bruce Love of Campden Research.

Dugan and Love were talking after the publication of a report by Merrill and Campden which concluded that single family offices (SFOs) in Europe responded to the 2008 economic crisis by pulling their

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