Hatteras Funds Renames Multi-Strategy Fund Hatteras Core Alternatives Fund

RALEIGH, N.C., Jan. 4, 2012 /PRNewswire/ -- Hatteras Funds, a boutique alternative investment specialist providing unique alternative investment solutions for financial advisors and their clients, announced today that the Hatteras Multi-Strategy Fund has been renamed the Hatteras Core Alternatives Fund. The Fund's strategies, objectives and management will not change.

Renaming the fund further distinguishes and better articulates the Hatteras Core Alternatives Fund from other multi-strategy funds of funds. Managed in partnership with Morgan Creek Capital Management, the core alternative investment solution allocates to both hedged strategies and private investments in a single investment vehicle, making it unique in the industry.

"As the alternative investing landscape evolves, renaming the Hatteras Multi-Strategy Fund the Hatteras Core Alternatives Fund provides greater clarity for investment advisors and their clients about the Fund's investment strategies, allocations and the role the Fund plays in a portfolio," said David B. Perkins, Hatteras Funds Founder and Chairman. "Thousands of funds currently fall under the multi-strategy umbrella, but the Hatteras Core Alternatives Fund is the only all alternatives, multi-strategy fund of funds combining hedged strategies with a mature, seasoned private investments portfolio. With 75 percent of our Fund's assets allocated to hedged strategies and 25 percent allocated to private investments, ours is truly a core alternative investment solution for qualified clients in both name and investment strategy."

The Fund was launched in 2004 to serve as a complement to a traditional portfolio of bonds, stocks and cash and was designed after the university endowment's alternative investment portfolio. The Fund allocates to 4 hedged strategies including Opportunistic Equity, Enhanced Fixed Income, Absolute Return and Tactical Trading. Additionally, the Fund allocates to private investment strategies diversified across 7 vintage years. By providing institutional-quality portfolios in a registered fund, investors gain access to strategies and managers that would normally be inaccessible due to high investment minimums and/or capacity constraints.

"The renaming to Hatteras Core Alternatives Fund does not alter our unwavering commitment to advisors whose clients are looking for sophisticated alternative investment solutions," said Mr. Perkins. "This is simply a better representation of the role this Fund could play in an Advisor's portfolio allocation."

For more information, please contact Jami Schlicher at 973.850.7309 or [email protected].

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 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.

Important Disclosures and Risk Factors: This is not an offering to subscribe for units in any fund and is intended for informational purposes only. An offering can only be made by delivery of the Prospectus to "qualified clients" within the meaning of U.S. securities laws. Please carefully consider the investment objectives, risks, and charges and expenses of the Funds before investing. Please read the Prospectus carefully before investing as it contains important information on the investment objectives, composition, fees, charges and expenses, risks, suitability, and tax obligations of investing in the Funds. Copies of the Prospectus and performance data current to the most recent month-end may be obtained online at hatterasfunds.com or by contacting Hatteras Funds at 866.388.6292. Past performance does not guarantee future results.

The Hatteras Core Alternatives Fund, L.P.; the Hatteras Core Alternatives TEI Fund, L.P; the Hatteras Core Alternatives Institutional Fund, L.P.; and the Hatteras Core Alternatives TEI Institutional Fund, L.P. (collectively referred to herein as the "Hatteras Core Alternatives Fund" or the "Fund") are Delaware limited partnerships that are registered under the Investment Company Act of 1940 (the "1940 Act"), as amended, as non-diversified, closed-end management investment companies whose units are registered under the Securities Act of 1933, as amended. The Hatteras Core Alternatives Fund is a fund of alternative investments. As such, the Fund invests in private hedge funds and private equity investments. Hedge funds are speculative investments and are not suitable for all investors, nor do they represent a complete investment program. A hedge fund can be described generally as a private and unregistered investment pool that accepts investors' money and employs hedging and arbitrage techniques using long and short positions, leverage and derivatives, and investments in many markets.

Key Risk Factors: The Fund, through an investment in the Master Fund, will invest substantially all of its assets in underlying funds that are generally not registered as investment companies under the 1940 Act and, therefore, the Fund will not have the benefit of various protections provided under the 1940 Act with respect to an investment in those underlying funds. The Fund can be highly volatile, carry substantial fees, and involve complex tax structures. Investments in the Fund involve a high degree of risk, including loss of entire capital. 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. The Fund provides limited liquidity, and units in the Fund are not transferable. Liquidity will be provided only through repurchase offers made by the Fund from time to time, generally on a quarterly basis upon prior written notice.

The success of the Fund is highly dependent on the financial and managerial expertise of its principals and key personnel of the Fund's investment managers. Although the investment managers for the Fund expect to receive detailed information from each underlying fund on a regular basis regarding its valuation, investment performance, and strategy, in most cases the investment managers have little or no means of independently verifying this information. The underlying funds are not required to provide transparency with respect to their respective investments. By investing in the underlying funds indirectly through the Fund, investors will be subject to a dual layer of fees, both at the Fund and underlying fund levels. Certain underlying funds will not provide final Schedule K-1s for any fiscal year before April 15th of the following year. Those funds, however, will endeavor to provide estimates of taxable income or losses with respect to their investments.

Please see the Prospectus for a detailed discussion of the specific risks disclosed here and other important risks and considerations.

Securities offered through Hatteras Capital Distributors, LLC, member FINRA/SIPC. Hatteras Capital Distributors, LLC is affiliated with Hatteras Investment Partners, LLC by virtue of common control/ownership. This document is not an offering to subscribe for units of any fund and is intended for informational purposes only.

SOURCE Hatteras Funds