2026 Investment Outlook
Reflecting on a milestone year and preparing for a disciplined new year.
Alitis Investment Committee (L-R): Andy Stevens, Harrison Brown, Thomas Nowak, Karl Li, Todd Blaseckie, Ryan Patterson, Mitchell Prothman
As 2025 draws to a close, Alitis is taking stock of a milestone year – one marked by strong equity performance, shifting real estate conditions, and significant organizational growth.
The firm surpassed $500 million in assets under management, a benchmark driven by both new client relationships and resilient investment returns across key asset pools.
“We saw very strong performance in the equity markets this year,” says Mitchell Prothman, Co-Chief Investment Officer.
As of November 30, 2025 and for D Class Units, Alitis’ Dividend Growth Pool has delivered an 18.31 per cent return YTD, while the Alitis Income & Growth Pool posted 6.03 per cent YTD – figures that helped counterbalance softer results in real assets.
Real estate, a core strength for Alitis, faced headwinds in 2025. Much of the sector’s slowdown stemmed from major federal policy changes introduced in 2024, particularly adjustments to immigration and non-permanent resident rules.
Canada’s population growth – an essential demand driver for housing – slowed dramatically, with outsized effects on major condo markets in Vancouver and Toronto.
However, Prothman notes that Alitis’ portfolios were insulated from the worst of the volatility.
“The greatest challenges this year were concentrated in condo development in major centres. Our portfolios are heavily focused on multifamily residential apartments in secondary markets, and those regions – especially Edmonton and Winnipeg – continued to perform on target.”
The Alitis Private REIT, for instance, has returned a positive 3.57 per cent YTD for D Class Units as of November 30, 2025, with stabilized, income-producing residential assets forming the backbone of the strategy.
Meanwhile, the Alitis Private Mortgage Fund delivered 4.70 per cent over the same period for the same class of units, supported by diversified exposure to residential and commercial lending.
Looking ahead to 2026, the team remains focused on maintaining disciplined portfolio construction and deepening its holistic wealth management approach.
As a fiduciary firm, Alitis integrates financial planning, risk management, and investment management to ensure client portfolios stay aligned with long-term goals.
“Our private client advisory team meets with most of our clients a couple of times a year,” explains Thomas Nowak, Co-Chief Investment Officer. “Some need more frequent communication, others less – but consistency is key as that allows us to make adjustments when material changes occur in a client’s life or risk profile.”
A major initiative for the year ahead is the launch of a new real estate services company, which is expected to streamline operations and deliver cost efficiencies across the firm’s real estate holdings. With unit-holder approval underway, Alitis anticipates the new platform to be in place by mid-2026.
Despite global uncertainty – from trade tensions to questions surrounding AI and valuations – Nowak says their investment philosophy remains steady: “Markets will always shift. Our multi-asset, diversified approach is built to stand the test of time and to give clients a better long-term experience.”
For Alitis, the path into 2026 is clear: stay disciplined, stay diversified, and stay focused on helping clients build resilient, goal-aligned portfolios in an ever-changing investment landscape.
Our Team at Alitis
Our dedicated team at Alitis has over 250 years of collective industry experience. But what makes us unique is the high level of integrity that every team member brings to the table.
Along with experience and integrity, each team member at Alitis shares the same commitment to our clients. At the end of the day, we measure our success based on the success of you reaching your financial goals.
If you’re interested in investing with Alitis, let’s have a conversation:
