Hatteras Alpha Hedged Strategies Variable Fund plans launch

By Toni Weeks

San Diego, Jan. 31 - Hatteras Variable Trust announced its plans to launch a new fund, the Hatteras Alpha Hedged Strategies Variable Fund.

The fund will seek consistent returns with low correlation to traditional financial market indexes while maintaining a high correlation to the Hedge Fund Research, Inc. Fund of Funds Composite Index. It will invest primarily in affiliated long/short equity, market neutral, relative value - long/short debt, event-driven and managed futures strategies mutual funds.

The portfolio is managed by a team consisting of Michael P. Hennen and Robert Murphy. Eighteen subadvisers will manage allocated assets of the underlying funds.

The fund will carry no shareholder fees. Management fees will be 0.25%. Taking into account other fees and expenses, the total annual fund operating expenses are expected to be 3.87%.

The fund's investment adviser is Raleigh, N.C.-based Hatteras Alternative Mutual Funds, LLC.

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