Hatteras Alpha Hedged Strategies Fund (NASDAQ:ALPHX)
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Alpha Hedged Strategies Fund Ranked #1 in Morningstar's
Conservative Allocation Category Out of 367 Funds for the One-Year Period
Ending 12/31/04 (Based on Total Return)*
WHITE PLAINS, N.Y., Jan. 4 /PRNewswire-FirstCall/ -- Alternative Investment
Partners, LLC (AIP http://www.aipfunds.com/ ) is pleased to announce the 2004
performance for their Alpha Hedged Strategies Fund (NASDAQ:ALPHX). The Alpha
Hedged Strategies Fund is an innovative open-end mutual fund designed to
minimize equity market exposure and volatility by employing a variety of
absolute return strategies. The Fund represents the next generation of product
for hedged alternative strategies investing, and is open to all investors.
The Alpha Hedged Strategies Fund delivered strong performance in 2004. The Fund
was up 17.23% for the past year, and the annualized return from inception on
9/23/02 through 12/31/04 was 7.72%.
Performance data quoted represents past performance and does not guarantee
future results. The investment return and principal value of an investment will
fluctuate so that an investor's shares, when redeemed, may be worth more or
less than their original cost. Fund performance current to the most recent
month-end may be lower or higher than the performance quoted and may be
obtained by visiting http://www.aipfunds.com/. The fund imposes a 2.00%
redemption fee for shares redeemed less than 180 calendar days after they are
purchased.
According to Morningstar, the Alpha Hedged Strategies Fund beat the #2 fund in
the Conservative Allocation category by 3.11% in 2004. There are 367 mutual
funds monitored in the Conservative Allocation category. Morningstar rankings
are based on total return. Total return identifies the return of the Fund
taking into consideration changes in the net asset value, accumulation and
reinvestment of dividends and the compounding factor over time.
"Investors are increasingly searching for alternatives to funds that have
significant exposure to the equity markets" said Lee Schultheis, Chief
Investment Strategist and co-founder of AIP and the Alpha Hedged Strategies
Fund. "As a fully open-end mutual fund that allocates its assets among multiple
specialized hedge fund managers (the Fund's sub-advisers), Alpha Hedged
Strategies Fund represents a compelling opportunity for mutual fund investors,
and an attractive alternative to traditional hedge fund-of-funds for many high
net worth individuals and financial intermediaries. The Fund seeks to attain
more consistently positive annual returns, with lower market exposure risk and
volatility, than if it utilized a single manager or single strategy approach."
As a multi-strategy fund, it is important to note that performance was positive
in 2004 across a broad range of alternative strategies, including Distressed
Securities, Earnings Revision Long/Short Equity, Momentum Long/Short Equity,
Merger Arbitrage and Convertible Bond Arbitrage."
Due to its unique positioning, and favorable performance, the Fund has been
extremely well received by the registered investment advisor community, and we
have even made inroads in the 401(k) plan marketplace and with selected bank
trust departments," Mr. Schultheis noted. "Looking forward to 2005, we are
planning to expand into the regional broker/dealer channel, and increase the
breadth and depth of our relationships in our existing markets. As the success
and stature of the AIP brand grows, we also anticipate rolling out additional
fund products to provide our clients with a broad array of risk adjusted return
oriented alternative products."
About the Alpha Hedged Strategies Fund
The Alpha Hedged Strategies Fund (ALPHX) is an open-end mutual fund that
invests its portfolio in a manner similar to a conservative hedge
fund-of-funds. The fund employs a multi-manager approach to a variety of hedged
alternative investment styles, but with a liquid portfolio of its own
securities, using the limited amounts of leverage and short-selling allowable
in open-end mutual funds.
The Alpha Hedged Strategies Fund utilizes the talents of highly specialized
hedge fund managers, as sub-advisers to the Fund, in executing their
alternative investment strategies. The Fund offers the portfolio
diversification benefits that institutions, pension funds, endowments &
foundations, and high-net worth individuals have become accustomed to in hedge
funds. The Fund combines these portfolio attributes with the daily pricing,
liquidity, and other shareholder features commonly associated with open-end
mutual funds. As such, the Fund is uniquely positioned to provide its
shareholders with portfolio diversification that goes well beyond the
traditional asset classes of stocks, bonds and cash.
For more information on the Alpha Hedged Strategies Fund please visit
http://www.aipfunds.com/ or call 1-866-Low-Beta (569-2382).
Fund Disclosure
The fund's investment objectives, risks, charges and expenses must be
considered carefully before investing. The prospectus contains this and other
important information about the investment company, and it may be obtained by
calling 1-877-Low-Beta (569-2382), or visiting http://www.aipfunds.com/. Read
it carefully before investing.
Certain hedging techniques and leverage employed in the management of the Fund
may accelerate the velocity of possible losses. Short selling involves the risk
of potentially unlimited increase in the market value of the security sold
short, which could result in potentially unlimited loss for the Fund.
Derivatives involve investment exposure that may exceed the original cost and a
small investment in derivatives could have a large potential impact on the
performance of the Fund. Options held in the Fund may be illiquid and the fund
manager may have difficulty closing out a position. The Fund may also invest
in:
-- smaller capitalized companies -- subject to more abrupt or erratic market
movements than larger, more established companies;
-- foreign securities, which involve currency risk, different accounting
standards and are subject to political instability;
-- securities limited to resale to qualified institutional investors, which can
affect their degree of liquidity;
-- shares of other investment companies that invest in securities and styles
similar to the Fund, resulting in a generally higher investment cost than from
investing directly in the underlying shares of these funds.
The Fund intends to utilize these individual securities and hedging techniques
in matched combinations that are designed to neutralize or offset the
individual risks of employing these techniques separately. Some of these
matched strategies include: merger arbitrage, long/short equity, convertible
bond arbitrage and fixed-income arbitrage. There is no assurance that these
strategies will protect against losses.
* Morningstar defines Conservative Allocation as: a fund that invests in
both stocks and bonds and maintains a relatively small position in
stocks. These funds typically have 20-50% of their assets in stocks and
50-80% of assets in bonds and cash.
Mutual fund investing involves risk; loss of principal is possible. Please
consult an investment professional for advice regarding your particular
circumstances.
Quasar Distributors, LLC, Distributor - 1/05
Contact: Jennifer Connelly
JC Public Relations
908-813-2478
This press release was distributed by PRWEB ( http://www.prwebdirect.com/ ), a
service of eMediawire.
DATASOURCE: Alternative Investment Partners, LLC
CONTACT: Jennifer Connelly of JC Public Relations, +1-908-813-2478, for
Alternative Investment Partners, LLC
Web site: http://www.aipfunds.com/