Alternative [Adjective] : "relating to activities that depart from or challenge traditional norms"
alternative investments provide something different, compared to traditional stocks or bonds
the performance is generated by a different set of 'risk factors'
therefore, the pattern of returns will differ from traditional investments
a portfolio benefits from an investment whose value moves separately from other assets
alternatives may experience lower volatility than traditional investments
alternatives may also provide an excess return (αlpha) over and above that generated by traditional investments
there is no free lunch in financial markets...except diversification
alternative investments are typically less liquid and harder to value
historically, alternative investments have been harder to access and more expensive
this led us to develop what we affectionately call the
intuitive and simple, robust and effective
keeping the benefits of an alternative investing strategy, while reducing the negatives