Art has gained increasing attention as an alternative investment due to its diversification potential and low correlation with traditional financial markets. While this has been examined for private collectors and high-net-worth individuals, the role of corporate art collections within financial institutions remains insufficiently analysed. In particular, it is unclear whether such collections can be justified as financial assets or should primarily be understood as strategic and cultural resources.

This thesis employs a mixed-methods research design. A systematic literature review explores the theoretical foundations of alternative investments, art as an asset class, and corporate art collections. This is supplemented by a quantitative analysis comparing art market indices with traditional equity benchmarks, alongside expert interviews with the UBS Art Department and Deloitte’s Art & Finance division. The qualitative findings are evaluated using a Balanced Scorecard framework to examine financial, strategic, and organizational value generation.

The findings suggest that, while art exhibits investment-like features at the market level, regulatory, accounting, and governance constraints prevent financial institutions from treating corporate art collections as financial investment assets. In the case of UBS, the art collection does not generate direct financial returns and is not integrated into conventional portfolios or collateral structures. Nevertheless, the analysis shows that the UBS art collection generates substantial strategic value. It enhances brand differentiation, fosters client engagement within Wealth Management, strengthens cultural credibility, and supports international positioning. When professionally managed and aligned with corporate objectives, the collection functions as a long-term strategic and reputational asset rather than a financial one. For UBS, the thesis provides a structured basis for further leveraging the art collection. The findings support a more intentional use through strengthened governance, selective partnerships, and well-designed utilization models aimed at improving operational sustainability and long-term self-sufficiency, while preserving cultural and strategic integrity.