The world’s wealthiest families have scurried out of risky assets for the supposed safer havens of cash, and overhauled financial arrangements due to threatened higher taxes, a survey by a new group called the Family Office Channel says.

The FOC is a project established by Stephen Fern - founder of professional web television platforms and chairman of the FOC - and John Riches, a partner of Withers, the international law firm. About 100 family office specialists are also backing the organisation.

A poll carried out in October this year, attracting more than 100 replies, showed that 67.4 per cent of respondents said it is more likely they will hold gold, while almost 60 per cent of respondents said bonds have become more attractive. On the other hand, hedge funds – which suffered record losses in 2008 – have fallen from favour.

The findings of the FOC appear at first glance to contrast with recent evidence that appetite for risk-taking has improved since stock markets recovered earlier this year. The MSCI World Index of developed countries’ equities has delivered total returns of almost 29 per cent so far this year, while hedge funds have also recovered some ground.

However, the rise in the gold price over $1,000 per ounce this year suggests desire for “safe-haven” assets remains an important investment force.

Among other findings of the FOC report was that only 3.4 per cent of respondents said that level of trust in investment advisors and institutions was unaffected after the financial crisis and high-profile frauds.

“The whole financial system now has a problem with reliability, which will last years,” said one respondent, according to the report.

Almost two-thirds said philanthropic activities had been hit by the downturn, but some respondents suggested that some wealthy families are in fact giving more to try and counteract the destructive impact of the recession on charities.

More than half (53.4 per cent) of wealthy families have recently reviewed their tax position and structuring arrangements as a result of increased scrutiny from tax authorities, the report said.

The FOC is supported by 100 international partners, which include leading organisations such as Bessemer Trust, Butterfield, KPMG, Lombard Odier, Lord North Street, New Philanthropy Capital and Withers.

The FOC aims to deliver news, video, research and other information to 1,500 of the wealthiest families globally, as well as family offices and associated firms.

To view the FOC site, click here.