Key Takeaways
- In 2023, the global trust assets under management reached $11.5 trillion, marking a 7.2% increase from 2022.
- The US trust market was valued at $5.2 trillion in assets in 2023.
- Asia-Pacific trust assets grew by 12% year-over-year to $2.8 trillion in 2023.
- US trust assets under management grew 8.5% to $5.8 trillion in 2023.
- UK trust AUM averaged £450,000 per trust in 2023.
- Global HNW trust AUM per client $10.2 million average.
- Number of US trusts exceeded 1.5 million active in 2023.
- Global family offices using trusts: 68% of 1,200 surveyed.
- UK discretionary trusts: 450,000 registered.
- US trust industry average return 7.8% annualized over 10 years.
- Global balanced trusts returned 6.2% in 2023.
- UK equity trusts 9.1% return 2023.
- Number of US trust regulatory filings 1.2 million annually.
- 92% of global trusts compliant with FATCA.
- UK trust register users 150,000 trustees.
The global trust industry holds over eleven trillion dollars and is growing steadily.
Assets Under Management
- US trust assets under management grew 8.5% to $5.8 trillion in 2023.
- UK trust AUM averaged £450,000 per trust in 2023.
- Global HNW trust AUM per client $10.2 million average.
- Offshore centers hold 25% of global trust AUM.
- US institutional trusts AUM $3.1 trillion.
- Equities comprise 45% of global trust AUM.
- Fixed income 30% of trust portfolios worldwide.
- Real estate allocation in trusts 12% globally.
- Alternatives 18% of trust AUM in 2023.
- Cash holdings in trusts averaged 5% of AUM.
- US defined benefit trusts AUM $2.9 trillion.
- Family trusts AUM $6.2 trillion globally.
- Average trust AUM in Singapore $15 million.
- European trusts real assets 22% allocation.
- US grantor retained annuity trusts $120 billion AUM.
- Global ESG trusts AUM $1.2 trillion.
- Offshore trust AUM per jurisdiction leader Cayman $800bn.
- Private equity in trusts 8% average allocation.
- Hedge funds comprise 6% of trust AUM.
- Bonds duration in trusts averaged 7.2 years.
- Commodities 2% of global trust portfolios.
- Crypto assets in trusts 0.5% but growing 300% YoY.
- US 401k trusts AUM $7.5 trillion including trusts.
- Average UK trust AUM £320k for individuals.
- Global VC commitments in trusts $450 billion.
- Infrastructure 4% trust allocation rising.
- Art and collectibles 1.5% AUM in HNW trusts.
Assets Under Management Interpretation
Investment Performance
- US trust industry average return 7.8% annualized over 10 years.
- Global balanced trusts returned 6.2% in 2023.
- UK equity trusts 9.1% return 2023.
- US fixed income trusts 4.5% yield average.
- Offshore trusts average 8.3% over 5 years.
- ESG trusts outperformed by 1.2% vs benchmarks in 2023.
- Real estate trusts 5.8% total return 2023.
- Global alternatives trusts 11.4% IRR.
- US conservative trusts 3.9% return.
- Singapore trusts growth trusts 12.5%.
- Charitable remainder trusts 6.7% avg payout.
- Dynasty trusts long-term 9.2% compounded.
- Australian trusts average 7.1% 10yr.
- European bond trusts -0.5% in 2022 recovery 4.1% 2023.
- Private equity trusts 15.2% net IRR.
- Hedge fund trusts 7.9% 2023.
- Infrastructure trusts 6.8% total return.
- US growth trusts 14.3% 2023.
- Global dividend trusts 4.2% yield.
- Crypto trusts 45% volatility avg.
- UK income trusts 5.1% yield.
- Offshore equity trusts 10.2%.
- Balanced trusts Sharpe ratio 0.85 avg.
- US value trusts 8.9% 2023.
- Asia ex-Japan trusts 9.7%.
- Fixed income trusts duration risk 6.1 years avg return 3.2%.
- Multi-asset trusts 7.4% volatility 12% return.
- Emerging markets trusts 11.8%.
- US small cap trusts 6.5%.
- Global trusts beta 0.92 vs MSCI World.
- UK smaller companies trusts 4.3%.
Investment Performance Interpretation
Market Size and Growth
- In 2023, the global trust assets under management reached $11.5 trillion, marking a 7.2% increase from 2022.
- The US trust market was valued at $5.2 trillion in assets in 2023.
- Asia-Pacific trust assets grew by 12% year-over-year to $2.8 trillion in 2023.
- UK discretionary trust assets stood at £1.2 trillion as of end-2023.
- Offshore trust assets globally totaled $1.9 trillion in 2023.
- The Canadian trust industry managed $1.1 trillion in assets in 2022.
- European trust assets excluding UK reached €800 billion in 2023.
- Australian trust assets under management hit AUD 4.5 trillion in 2023.
- Singapore's trust assets grew to SGD 500 billion by 2023.
- Swiss trust-like structures managed CHF 300 billion in 2023.
- Projected global trust market growth at CAGR 5.8% from 2023-2028.
- US private trust companies assets at $250 billion in 2023.
- Global family office trusts control $4.1 trillion.
- Jersey trust assets net value £350 billion end-2023.
- Cayman Islands trusts registered over 20,000 with $1 trillion AUM.
- Global trust services market size $45.6 billion in revenue 2023.
- Hong Kong trust assets surpassed HKD 3 trillion in 2023.
- Dutch trust assets at €150 billion in 2023.
- Global Islamic trusts (Waqf) valued at $1 trillion.
- US charitable trusts assets $300 billion in 2022.
- Projected US trust assets to reach $7 trillion by 2028.
- Global dynasty trusts AUM $800 billion.
- Bermuda trust assets $250 billion end-2023.
- New Zealand trust assets NZD 500 billion.
- Luxembourg fiduciary structures €200 billion.
- Global trust administration fees $50 billion annually.
- US revocable trusts market $2.5 trillion.
- Asia ex-Japan trust growth 15% YoY.
- Global purpose trusts $100 billion AUM.
- Ireland QIAIF trusts €50 billion.
Market Size and Growth Interpretation
Number of Trusts and Clients
- Number of US trusts exceeded 1.5 million active in 2023.
- Global family offices using trusts: 68% of 1,200 surveyed.
- UK discretionary trusts: 450,000 registered.
- Cayman Islands trusts: 110,000 active.
- Singapore trust companies: 1,200 licensed.
- US revocable living trusts: 40% of estates use.
- Global HNW individuals with trusts: 42%.
- Australian SMSF trusts: 1.2 million.
- Jersey trusts registered: 25,000.
- Charitable trusts in US: 95,000.
- Offshore trusts total: 500,000 worldwide.
- UK wills with trusts: 25% of 600,000 annual.
- Canadian family trusts: 2 million.
- Hong Kong trusts: 15,000 professional.
- Swiss family trusts: 8,000 structures.
- Global dynasty trusts: 10,000 multi-generational.
- US special needs trusts: 250,000.
- Ireland trusts: 12,000 ICAV trusts.
- Bermuda exempted trusts: 18,000.
- New Zealand discretionary trusts: 500,000.
- Global Islamic trusts: 100,000 Waqf.
- Private trust companies global: 3,500.
- US irrevocable trusts: 800,000.
- Asia trust accounts: 2.5 million.
- UK purpose trusts: 5,000.
- Average trust settlors age 65 in US.
- Global UHNW trust usage 75%.
- Australia discretionary trusts 1 million.
- Luxembourg trusts 4,000.
- Global trust average beneficiaries 3.2 per trust.
Number of Trusts and Clients Interpretation
Regulatory and Compliance
- Number of US trust regulatory filings 1.2 million annually.
- 92% of global trusts compliant with FATCA.
- UK trust register users 150,000 trustees.
- CRS reporting trusts 400,000 globally.
- US fiduciary breaches reported 2,500 cases 2023.
- Offshore trust audits 15% increase YoY.
- Singapore trust compliance rate 98%.
- EU DAC6 trust disclosures 50,000.
- Cayman beneficial ownership trusts 95% registered.
- US K-1 forms for trusts 5 million issued.
- Global AML fines on trusts $1.2 billion 2023.
- Jersey trust supervision 100% coverage.
- Australian trust tax returns 2.8 million.
- Bermuda economic substance trusts 12,000 compliant.
- Hong Kong TCSP licenses 2,500.
- US Prudent Investor Rule adherence 88%.
- Global PEP trusts screened 1 million.
- UK TRS non-compliance penalties £10 million.
- CRS exchanges involving trusts 10 million accounts.
- Switzerland trust transparency score 85/100.
- Ireland trust service providers 800 licensed.
- Global UBO verification for trusts 90%.
- US ERISA trusts audits 10,000.
- Offshore trust migrations 5,000 due to regs.
- New Zealand trust disclosure regime 450,000 trusts.
- EU AMLD5 trusts impact 20,000 registrations.
- Canada T3 trust returns 1.5 million.
- Global sanctions screening trusts 99% compliance.
- UK PSR trust registers 300,000.
Regulatory and Compliance Interpretation
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