Alternative Asset Management refers to the process of managing investments in non-traditional asset classes beyond stocks, bonds, and cash. This includes real estate, commodities, private equity, hedge funds, art, and antiques. The practice aims at diversification, risk management, and potentially higher returns, catering to institutional investors, high-net-worth individuals, and retail investors seeking to broaden their investment portfolios. alternative asset management, investments, diversification, risk management, institutional investors, high-net-worth individuals, non-traditional asset classes.