PORTLAND, Ore., Nov. 18 /PRNewswire/ -- Harness Investment Management Group, LLC announced today that they will launch a new mutual fund, the Harness Absolute Return Fund (Ticker: HIARX). This new fund, currently in an initial offering period, is expected to commence operations December 31, 2009. The Fund's advisor is Harness Investment Management Group, LLC.

(Logo: http://www.newscom.com/cgi-bin/prnh/20091118/NE13327LOGO )

Founded by Andre Mallegol and Don Yocham, both formerly with PIMCO, Harness Investment Management Group, LLC focuses on providing alternative investment products that are aligned with the evolving needs of fiduciaries. The firm was formed in 2008 and has offices in Portland, Oregon and Rockland, Massachusetts.

The conventional approach to investing seeks to provide excess returns relative to a benchmark that represents a particular asset class or static asset allocation. However, the goal of most investors is to earn positive returns after inflation, taxes and fees. For that reason, the Harness Absolute Return Fund seeks to achieve absolute returns above inflation, as measured by the Consumer-Price Index (CPI). This index is not an investable index and does not represent asset values, but is instead a measure of purchasing power. The Fund strives to accomplish this through active management across a range of asset classes utilizing a top-down, global, macro-economic process. The advisor has managed accounts with a comparable strategy for over three years.

According to Don Yocham, the Fund's portfolio manager, "This Fund is an alternative to conventional investment approaches, attempting to provide a solution for investors concerned about achieving their own goals rather than the goals of their peers. Investing is ultimately and unavoidably an exercise in judgment and our Fund is designed for those investors that place value in our ability to exercise judgment regarding near-term and long-term investment opportunities in absolute, not relative, terms."

Please visit the Fund advisor's website at www.HarnessIMG.com to learn more about the team and their investment process.

Investors should consider the investment objectives, risks, fees and expenses carefully before investing. Call 1-877-942-7637 for a prospectus which contains this and other information about the fund. Read the prospectus carefully before investing.

The custodian for the Fund is U.S. Bank and the Fund is distributed by their distributor, Quasar Distributors, LLC

    For inquiries, please contact:

    Andre Mallegol
    Harness Investment Management Group, LLC
    800 Hingham Street, Suite 102N
    Rockland, MA  02370
    (339) 469-2870

www.HarnessIMG.com

"Mutual fund investing involves risk. Principal loss is possible.

The Fund's use of derivatives may cause losses due to the unexpected effect of market movements on a derivative's price, or because the derivatives do not perform as anticipated, or are not correlated with the performance of other investments which they are used to hedge or if the Fund is unable to liquidate a position because of an illiquid secondary market. The Fund invests in foreign securities which involve political, economic and currency risks, greater volatility and differences in accounting methods.

The Fund is non-diversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. Therefore, the Fund is more exposed to individual stock volatility than a diversified fund.

Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities."

SOURCE Harness Investment Management Group, LLC

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