Hatteras Funds has launched a flat-fee variable annuity giving investors access to hedge fund strategies.
The North Carolina firm's Hatteras Alpha Hedged Strategies Variable Fund is a multi-manager, multi-strategy offering similar to its 10-year-old mutual fund of hedge funds, Hatteras Alpha Hedge Strategies. But the new vehicle is available on Jefferson National's variable annuity platform, the only such alternatives fund currently available there.
"We believe alternative investment strategies provide higher levels of diversification and risk mitigation than traditional strategies, especially during volatile market environments, but some investors and advisors find the taxes to be an obstacle," Robert Worthington, Hatteras president, said. "Hatteras and Jefferson National have removed this obstacle by offering a daily liquid, multi-strategy, multi-manager alternative fund within a tax-deferred variable annuity."