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Family offices still hunger for alternatives, says survey


A new survey suggests that more than half (59%) of families are seeking an alternative investment manager, but over the long term are not making significant changes to their investment philosophy.

The Family Office Exchange’s Wealth Trends 2011 survey found that 26% of family offices are looking for an external investment consultant. The numbers of offices that are planning substantive changes are adopting a more conservative investment approach after in 2008 and 2009, moving substantial assets to cash and thereby sacrificing investment returns.

When it comes to returns, the survey found family offices anticipating a median return of