While alternative investments are lauded for their low correlation with standard asset classes and hence their ability to provide valuable portfolio diversification, they are mainly unregulated, often risk-heavy and can suffer from illiquidity.

This guide looks at the various investments that come under the alternative banner; how clients should invest in alternatives; whether advisers should recommend alternatives; the differing risks between alternative investments and how costs and fees compare between various AIs.

Answers were supplied by Adrian Lowcock, senior research analyst at Hargreaves Lansdown; and Brett Williams, managing partner at Old Burlington Investments.