Family offices are enigmatic creatures not only to ordinary folks but also to many in the money world.
There have always been questions about how these entities that manage wealthy families' fortunes make investment decisions. These questions are now heard more often because the economic downturn has made fund-raising a more difficult nut to crack.
No doubt, some of the family offices are taking blows from the cash crunch, but many say their investment priorities have changed little. One single family office in New York City, which declined to be identified, observed that family offices invest for the long term and that they always take into consideration ups and downs in the marketplace when they devise their investment strategy.
What do they, then, expect from money managers now?
Read details at The Capital Express (www.TheCapitalExpress.com), a New York-based online publication covering the world of private investments.