Fundamentals of Alternative Investments Enhanced Learning Modules 2024

Fundamentals, the flagship offering of the UniFi by CAIA™ platform provides a foundation of core concepts in alternative investments and their role in a diversified portfolio based on a client’s goals and objectives — filling a crucial education gap for a wide range of professionals, particularly those in wealth management and sales and marketing roles for alternative asset managers.

The curriculum is organized into eight modules, which fall into three categories: foundations, strategy introductions, and portfolio applications. Each module takes the perspective of a client-facing professional and follows a goals-based approach. The goals of growth, income, capital preservation, and inflation protection permeate throughout the program.


Provides fundamental knowledge on alternative investments necessary to better understand these asset classes and strategies. These include common features across all alternative investments, such as unique risk and return considerations, illiquidity profiles, and return dispersion. Additionally, fund vehicles that range from fully illiquid, to semi-liquid, to liquid, are introduced.

  • Module 1: An Introduction to Alternative Investments
  • Module 2: Risk and Return of Alternative Investments
  • Module 3: Accessing Alternative Investments

Strategy Introductions

Organizes alternative investments into four risk and return categories. Within each of these categories, multiple sub-strategies are introduced, all of which cover the characteristics, objectives, risks, performance, and appropriateness for a client to better explain how they might be integrated into a diversified portfolio.

  • Module 4: Equity Strategies
  • Module 5: Credit Strategies
  • Module 6: Real Assets Strategies
  • Module 7: Diversifying Strategies

Portfolio Applications

Focuses entirely on allocating and implementing alternative investments to a diversified portfolio. Topics in this section focus on different asset allocation and portfolio construction methods, managing liquidity across a portfolio, operational considerations, and client communication.

  • Module 8: Portfolio Implementation