Alternative mutual funds (sometimes called alt funds or liquid alts) are publicly offered, SEC-registered mutual funds that hold non-traditional investments or use complex investment and trading strategies. Unlike traditional mutual funds, alt funds often seek to accomplish their investment objectives by investing in non-traditional investments. For example, alt funds might invest in assets such as global real estate, start-up companies, or commodities such as gold or oil. These investments can sometimes offer greater diversification or different returns than more traditional investments such as stocks, bonds, and cash.