On June 1, 2026, UBS released its latest global family office investment survey report, revealing that 60% of the world’s top family offices plan to reduce their holdings of US dollar assets within the year and optimize their global asset allocation strategies. The survey covers hundreds of high-net-worth institutional investors across North America, Europe, Asia and emerging markets, reflecting the latest global capital allocation trends. Institutional investors explained three core reasons for cutting dollar assets. First, the US dollar maintains high volatility amid unstable Federal Reserve monetary policy, increasing asset hedging costs. Second, sticky US inflation prolongs the high-interest-rate environment, bringing sustained pressure on US stock and bond valuations. Third, the overvaluation of US core assets has increased long-term investment risks and reduced risk-adjusted returns. Instead of concentrating on dollar assets, family offices are accelerating diversified global layout. They are increasing allocations to safe-haven gold, high-quality equity assets in emerging markets, and cross-border fixed-income products with stable cash flow returns. UBS analysts pointed out that this large-scale asset rebalancing trend is structural rather than temporary. Continuous capital outflow from dollar assets will gradually weaken the US dollar’s global reserve premium and reshape the pattern of global cross-border capital flows. In the medium and long term, the global financial market will usher in a more diversified asset pricing system, and emerging market high-quality assets will gain increasing global capital favor.