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Hatteras Funds Celebrates 10-Year Anniversary Of Hatteras Alpha Hedged Strategies Fund.

Milestone Comes as Demand for Alternative Investment Strategies Increases among Advisors

RALEIGH, N.C., Sept. 5, 2012 /PRNewswire/ -- Hatteras Funds ("Hatteras"), a boutique alternative investment specialist providing unique alternative investment solutions for financial advisors and their clients, marks the 10-year anniversary of the Hatteras Alpha Hedged Strategies Fund (ALPHX, APHAX, APHCX, ALPIX) on September 23, 2012.

The Fund family, which has grown to $700 million in assets under management, offers multi-strategy, multi-manager, daily liquid alternative mutual funds, providing position-level transparency and allows investors to increase their allocation to alternatives without compromising liquidity. Robert J. Murphy and Michael P. Hennen act as the Fund's Portfolio Managers alongside 4 investment professionals. The Portfolio Management team has been the manager of the Fund since September 2009 when Hatteras Funds acquired the Fund's advisor.

"We are very pleased to celebrate the 10[sup.th] anniversary of the Hatteras Alpha Hedged Strategies Fund and believe our investors benefit from the decade of experience we have in managing liquid alternative mutual funds. We are confident that this Fund and our other alternative mutual fund offerings will continue to grow as more investors and their advisors turn to mutual funds for their alternative investment strategies," said Bob Worthington, President of Hatteras. "This milestone demonstrates our commitment to deliver institutional-quality alternative investments to investors at a time when the demand for such strategies is increasing."

The Fund invests in multiple hedge fund managers and multiple hedge fund strategies and has done so for more than 10 years. The Fund seeks to achieve consistent returns with low correlation to traditional financial market indices while maintaining a high correlation to the Hedge Fund Research, Inc. ("HFRI") Fund of Funds Composite Index. Hatteras also manages two single-strategy, multi-manager alternative mutual funds, the Hatteras Long/Short Equity Fund (HLSAX, HLSIX) and Hatteras Long/Short Debt Fund (HFIAX, HFINX) and a variable insurance trust fund, Hatteras Alpha Hedged Strategies Variable Fund (ALPVX).

For more information, please contact Jami Schlicher at 973.850.7309 or jschlicher@jcprinc.com.

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 help financial advisors allocate to alternative investments. The Raleigh, N.C.-based firm manages over $2 billion in alternative investment strategies for a broad range of institutions, endowments, pensions and high net worth individuals. For more information, please visit hatterasfunds.com.

The Hatteras Alpha Hedged Strategies Fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The summary prospectus and prospectus contain this and other important information about the investment company, and may be obtained by calling 877.569.2382 or visiting hatterasfunds.com. Read it carefully before investing.

The Hatteras Alternative Mutual Funds (the "Funds") are funds of funds. Therefore, your cost of investing in the Funds will generally be higher than the cost of investing directly in the shares of the mutual funds in which it invests. By investing in the Funds, you will indirectly bear your share of any fees and expenses charged by the underlying funds in addition to indirectly bearing the principal risks of the Funds. The underlying funds may engage in speculative investment strategies and practices, such as the use of leverage, short sales, and derivatives transactions, which can increase the risk of investment loss. Please refer to the summary prospectus or prospectus for more information about the Funds, including risks, fees, and expenses.

The Funds are distributed by Hatteras Capital Distributors, LLC, an affiliate of Hatteras Alternative Mutual Funds, LLC by virtue of common control or ownership.

SOURCE Hatteras Funds
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Date:Sep 5, 2012
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