ALTERNATIVE INVESTMENTS
Beyond traditional portfolios.
LIAM evaluates alternative strategies and assets that can complement traditional equity and fixed-income portfolios through differentiated sources of return, diversification and risk exposure.
AREAS OF FOCUS
Broaden the opportunity set with purpose.
Absolute-Return Strategies
Strategies designed to pursue returns with less dependence on traditional market direction.
Real Assets
Selected opportunities linked to infrastructure, property and other tangible assets.
Special Situations
Complex or time-sensitive opportunities where structure, catalyst and downside protection are especially important.
Opportunistic Credit
Credit strategies that may benefit from market dislocations, complexity or differentiated underwriting.
Structured Opportunities
Investments whose return and risk characteristics depend materially on contractual structure and underlying assets.
Thematic & Non-Traditional Exposures
Selected strategies offering access to return drivers not fully represented in conventional portfolios.
HOW WE EVALUATE ALTERNATIVES
The investment must have a clear role in the portfolio.
Portfolio Role First
Every alternative investment should serve a defined purpose within the broader portfolio.
Liquidity Matters
Lockups, redemption terms and secondary-market depth can materially affect realized outcomes.
Understand the Return Engine
We seek clarity on whether returns are driven by market exposure, leverage, illiquidity, manager skill or genuinely differentiated opportunity.
Due Diligence
Strategy, governance, counterparties, valuation, operational controls and downside scenarios all matter.
ALTERNATIVES IN CONTEXT
Evaluate alternatives in the context of the whole portfolio.
The objective is not simply to own more complex investments. It is to identify exposures that improve the portfolio’s overall balance of return potential, diversification, liquidity and risk.