Hatteras Funds[see profile] is making a few changes to its Hatteras Alpha Hedged Strategies Fund, a multi-strategy, multi-manager alternative mutual fund.

First, Hatteras Funds has added an institutional class of shares to the Hatteras Alpha Hedged Strategies Fund at a total net expense ratio capped at 299 basis points, which is 100 bps lower than both the A shares and no load shares. In addition, Hatteras Funds has also added a managed futures component to the fund's strategy allocation

"The addition of I-Shares and Managed Futures to the fund illustrates Hatteras Fund's responsiveness to the needs of our Financial Advisors and the clients they serve," stated Brian Jacobs, CEO of Hatteras Funds. "There is significant and growing demand for differentiated daily-liquid alternative funds in models and fee-based platforms that aim to reduce overall portfolio volatility and improve diversification."

RALEIGH, N.C., Oct. 3, 2011 /PRNewswire/ -- Hatteras Funds, a provider of unique alternative investment solutions for financial advisors and their clients, has announced two enhancements to the Hatteras Alpha Hedged Strategies Fund (Ticker: ALPHX), a multi-strategy, multi-manager alternative mutual fund offering daily liquidity and position level transparency.

Hatteras Funds has added an institutional class of shares ("I-Shares") (Ticker: ALPIX) to the Hatteras Alpha Hedged Strategies Fund to better serve the needs of Financial Advisors and their clients. The I-Shares of the Hatteras Alpha Hedged Strategies Fund are offered at a total net expense ratio capped at 2.99%*, 1.00% lower than both the A-Shares and No Load-Shares.

Hatteras Funds has also added Managed Futures to the Fund's strategy allocation. Hatteras Alpha Hedged Strategies Fund now offers investors exposure to 19 hedge fund managers diversified across four alternative strategies (long/short equity, market neutral, relative value, and event driven) and an allocation to 5 managed futures trading advisors, enhancing its role as a core alternative mutual fund solution.

"The addition of I-Shares and Managed Futures to the Fund illustrates Hatteras Fund's responsiveness to the needs of our Financial Advisors and the clients they serve," said Brian Jacobs, CEO of Hatteras Funds.

"Managed futures and strategies associated with it have historically had low correlation to stocks and bonds, which potentially allow it to take advantage of market volatility and deliver strong risk-adjusted returns in a variety of market conditions," said Robert Worthington, CFA, President of Hatteras Funds.

"There is significant and growing demand for differentiated daily-liquid alternative funds in models and fee-based platforms that aim to reduce overall portfolio volatility and improve diversification," added Jacobs. Hatteras Alpha Hedged Strategies Fund allows Financial Advisors and their clients to more easily allocate to a multi-manager, multi-strategy core alternative allocation.

For more information about Hatteras Funds, please contact Tony Kono at 973.850.7323 or tony@jcprinc.com. For more information about the funds, please contact Hatteras Funds at 866.388.6292.

About Hatteras Funds Hatteras Funds provides unique alternative investment solutions for financial advisors and their clients. We believe that all investors should have access to the same sophisticated investment approach and superior portfolio management talent as the largest institutions. A boutique alternative investment specialist founded in 2003, Hatteras Funds offers a suite of innovative products designed to solve specific portfolio needs. The Raleigh, N.C.-based firm manages $2 billion in alternative investment strategies for a broad range of institutions, endowments, pensions and high net worth individuals. For more information, please visit www.hatterasmutualfunds.com.

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