1 minutes to read by  PH&N Institutional team Apr 16, 2026

As alternative investments have grown to become an increasingly important component of institutional portfolios, we have aimed to produce insightful publications that enhance investors’ understanding of how this asset class can help them achieve their investment objectives. In our paper Alternative investment strategies: Role and opportunities in the current market environment, we argued that despite improved outlooks in fixed income and equity markets, alternative investments would continue to deliver important portfolio benefits through enhanced diversification and superior risk-adjusted returns. More recently, our annual Private Markets Report examined foundational private asset classes; namely, real estate, infrastructure, and commercial mortgages.

In this paper, we shift our focus to public market alternatives – also known as liquid alternatives or hedge funds – and explore why we believe this category of investment strategies warrants a larger role in institutional portfolios going forward.

Read the full piece here.

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Disclosure

This document is intended for institutional investors only. Some of the strategies described herein may only be offered to qualified investors and may involve a high degree of risk.

This document has been provided by PH&N Institutional for information purposes only and may not be reproduced, distributed or published without the written consent of PH&N Institutional. It is not intended to provide professional advice and should not be relied upon in that regard.

PH&N Institutional takes reasonable steps to provide up-to-date, accurate and reliable information, and believes the information to be so when printed. The views and opinions expressed herein are those of PH&N Institutional and are subject to change without notice. This information is not intended to be an offer or solicitation to buy or sell securities or to participate in or subscribe for any service.
Information obtained from third parties is believed to be reliable, but no representation or warranty, express or implied, is made by PH&N Institutional, its affiliates or any other person as to its accuracy, completeness or correctness. We assume no responsibility for any errors or omissions in such information.

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds.

Expected risk and returns represent the views of PH&N Institutional for the purposes of illustrating and understanding the potential risk-reward trade-off of different strategies. Actual risk and returns depend upon a variety of factors. No representation is being made that returns similar to those shown will be achieved.

Investments in alternative strategies are speculative and involve significant risk of loss of all or a substantial amount of your investment. Alternative strategies: (i) may engage in leverage and other speculative investment practices that may increase the risk of investment loss; and (ii) can be highly illiquid. In assessing the suitability of these investments, investors should carefully consider their personal circumstances including time horizon, liquidity needs, portfolio size, income, investment knowledge and attitude toward price fluctuations. Investors should consult their professional advisors and consultants regarding any tax, accounting, legal or financial considerations before making a decision as to whether the strategies mentioned in this material are a suitable investment for them.

This material contains statements that are not purely historical in nature, but are “forward-looking statements.” These include, among other things, projections, hypothetical performance analyses, hypothetical analyses of income, yield or return, future performance targets, sample or pro forma portfolio structures or portfolio composition, scenario analyses, specific investment strategies and proposed or pro forma levels of diversification or sector investment. These forward-looking statements are based upon certain assumptions and involve significant elements of subjective judgment and analysis. No representation is made that any returns indicated will be achieved or that all assumptions have been considered or stated. Actual events are difficult to predict and are beyond our control. Hence, actual events may differ materially from those assumed. All forward-looking statements included are based on information available on the date hereof and we do not assume any duty to update any forward-looking statement. Some important factors which could cause actual results to differ materially from those in any forward-looking statements include, without limitation, changes in general economic, market, legal and financial conditions. Accordingly, there can be no assurance that hypothetical returns or projections can be realized, that forward-looking statements will materialize or that actual returns or results will not be materially different than those presented.

PH&N Institutional is the institutional business division of RBC Global Asset Management Inc. (RBC GAM Inc.). RBC GAM Inc. is the manager and principal portfolio adviser of the Phillips, Hager & North (PH&N) investment funds and RBC investment funds.

RBC Global Asset Management is the asset management division of Royal Bank of Canada (RBC) and includes RBC GAM
Inc., RBC Global Asset Management (U.S.) Inc., RBC Global Asset Management (UK) Limited, and RBC Global Asset Management (Asia) Limited, which are separate, but affiliated subsidiaries of RBC.

®/™ Trademark(s) of Royal Bank of Canada. Used under licence.
© RBC Global Asset Management Inc., 2026

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