The book is composed of four parts. The first one analyses the different types of institutional investors, institutions which, with different objectives, professionally manage portfolios of financial and real assets on behalf of a wide variety of individuals The second part of the book identifies and investigates the stages of the investment portfolio management, dividing the investment process into stages.The third part describes performance assessment, its breakdown and risk control. Finally, the fourth part deals with the subject of diversification towards alternative asset classes, identifying the common characteristics and their possible role within the framework of investment management policies.