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If family offices saw a 15% return in 2017 aren’t they doing something wrong?

This week the annual UBS/CampdenWealth Global family office report, arguably the most widely quoted source on investment trends in the family office world, said, with much fanfare, average returns on family offices’ portfolios were 15.5% in 2017. Why all the fuss when the S&P500 grew by 21.8% in the same year?

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