A recent paper by Richard M. Ennis, a veteran of institutional investment analysis, has been generating plenty of buzz. His message: Investing in alts incurs extraordinary costs for very ordinary returns.

Ennis asserts that management fees for alts are too high, that most alts underperform, and that they have had a negative impact on the performance of institutional investor portfolios since the 2008-2009 Great Financial Crisis.

Check out our interview with Ennis. It was one of our most popular articles of the week.     

Where you'll find us

• Check out our homepage for the latest from Canadian Family Offices. 
• If you use LinkedIn, our page is here.
• Feel free to send us feedback at info@CanadianFamilyOffices.com 

Thanks for reading! 

As many of you know, there is a dearth of research into the Canadian family office landscape. Last week we launched our continuing effort to remedy that: the second annual Canadian Family Offices Multi-Family Office Survey. 

If you are a representative of a multi-family office and want to help develop a deeper understanding of the industry in Canada, we hope you will take a moment to complete the survey. Click here.

Vitruvius estimates that global markets for AI in healthcare and for educational technology are projected to exceed $200 billion and $400 billion by 2027.

Looking at the first half of 2025 so far, the word to describe it is ‘volatility.’ One sector that is relatively stable, no matter what might be happening, is medicine. After all, whether the TSX is up or down, if we’re ill, we need healing. This makes healthcare a relatively safe harbour when things go sideways. 

This is a sentiment that Dr. Renzo Cecere knows well. With over 25 years of experience as a heart surgeon at McGill University, Cecere has seen the space evolve. Eighteen months ago he decided to put his experience to use, and he co-founded the Vitruvius Innovation Group and Venture Studio, an organization dedicated to transforming the landscape of healthcare innovation.

This story is brought to you by PBY Capital.

Kerfuffle made clear that families need to prepare for future tax liabilities and craft a surefire succession plan