Family offices occupy a rare structural position: enough capital to matter, enough flexibility to move without a committee. Unlike institutional allocators, they are not bound to benchmark-hugging mandates or quarterly redemption pressures, which raises a genuinely strategic question rather than a tactical one. What should a family office actually do with that freedom in public markets?
The choice set is wider than it has ever been. Active or passive. Direct stock-picking or fund structures. Primary allocations or secondary opportunities. ETFs or traditional mutual funds. Each axis carries a different trade-off between cost, control, and conviction, and the right answer looks different depending on the family's time horizon, governance maturity, and appetite for concentration risk.
Two questions cut to the center of this debate. First, are ETFs displacing mutual funds as the more rational vehicle, given the persistent drag of fees on long-term compounding? Second, and less discussed, is there a point at which diversification stops protecting capital and starts diluting the very insight that justified direct public market exposure in the first place?
We take on both, with practitioners actively managing these allocations:
- Nikhil Chandak — Chief Investment Officer, Shanghvi Family Office
- Vedant Loyalka — CIO, Loyalka Family Office
- Rahul Mehta — Advisor, George Kaiser Family Office
- Sujay Kotak — Family Office Investments, Varun Beverages Ltd. (RJ Corp Group)
- Dheeraj Gaur — Executive Vice President, Choice Wealth
A candid look at how family offices are building conviction based public market portfolios, and where the line between diversification and dilution actually sits.
📍 Taj Lands End, Mumbai | 24 July, 2026
🔗 Register:
zurl.co/LgZ1S
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