Glossary

Alternatives

The standard asset classes are equities, bonds and cash. Alternatives tend to include everything else. These might include property - both public and private, private equity, venture capital, hedge funds, commodities, timber, water, distressed assets and such investment vehicles or collectables, such as art, fine wine and stamps. They tend to be less liquid, require a greater level of specialism and are generally lowly correlated with the main asset classes.