Fidelity Investments is getting in on the retail hedge fund game. The firm announced today that is has added the IQ ALPHA Hedge Strategy Fund to its mutual fund platform, bringing hedge fund-style investing to retail investors.

The IQ ALPHA fund seeks to deliver hedge fund-like performance with lower costs, higher transparency and increased liquidity for shareholders. The no-transaction fee Investor Class Fund is available through Fidelity Investments with a minimum required investment for first-time shareholders of $2,500. The Institutional Class Fund is available with a minimum aggregated investment of $250,000.

“The extraordinary market volatility investors have experienced serves to highlight the positive role alternative asset classes can play in providing portfolio diversification,” said Adam Patti, chief executive officer at IndexIQ. “Our goal is to make these strategies available to Registered Investment Advisors and retail investors through products that are transparent and cost-efficient. The addition of the IQ ALPHA Hedge Strategy Fund to the Fidelity Investments platform is a significant step forward in reaching this broader market.”

IndexIQ also recently launched a U.S. listed hedge fund replication exchange-traded fund. The IQ Hedge Multi-Strategy Tracker ETF seeks broad hedge fund returns with low volatility and low correlation to equity markets, providing a liquid, transparent, low cost, hedge fund alternative. The ETF, one of many Alternative Investment ETFs IndexIQ plans to launch, seeks to replicate, before fees and expenses, the returns of the IQ Hedge Multi-Strategy Index.