This study presents a methodology for making decisions on the number of Collective Investments Funds (CIF) for portfolio construction using Multi-Criteria Decision Analysis (MCDA) techniques, particularly a combination called PrAToVi. The proposed methodology includes the integration of economic and financial theories of investment in equity portfolios with the multi-criteria techniques described in PrAToVi, which allows a finite number of alternatives to be evaluated hierarchically under qualitative and quantitative criteria. This methodology was evaluated with funds managed by fiduciaries and with information from the end of 2021, which is contained in the technical sheets of each fund, and, the compares with information about 2022 and 2023. The computational results show the importance and efficiency of successfully integrating traditional investment criteria in stock portfolios and multi-criteria methodologies to generate a ranking of those CIFs with which portfolios can be created and an adequate balance between multiple criteria, including profitability and risk, can be found. This approach also considers the investment decision-making process regarding assets managed by Colombian SFs. The proposed methodology can be applied to other emerging markets such as Colombia and can manage this alternative type of investment.