Alternative Asset Management refers to the investment strategy that focuses on assets outside of traditional stocks and bonds. This includes investments in areas such as real estate, private equity, hedge funds, and commodities. These assets often provide diversification and can help manage risk in an investment portfolio. Investors in alternative assets typically seek higher returns and may be willing to accept higher risks. This type of management often involves specialized knowledge and strategies, as the markets for these assets can be less liquid and more complex than traditional investments.