Global trade disputes worry family offices more than anything else, with many shifting to defensive stocks to minimize the impact of tariffs on their portfolios, according to a Citi Wealth report based on a survey of 346 family offices in 45 countries conducted in June and July. Trade dispute concerns were even greater for family offices in North America and the Asia-Pacific region, cited by 65% and 61% of respondents, respectively. In light of these market-moving issues, nearly two-thirds of family offices made moves to gird their portfolio, with 39% citing active management as their response. The report also noted that family offices’ interest in seeking analyses of their liquid and illiquid risk exposures across all their providers has been increasing. Related Stories:Family Offices Lean Further Into Alts, Crypto39% of Family Offices Are Crypto Investors or Are Eyeing ItFamily Offices Grow, as the Rich Get RicherTags: Family Offices