Alpha Hedged Strategies Fund Passes the $100 Million in Net Assets Mark and Continues to Attract New Investors
May 09 2005 - 3:58PM
PR Newswire (US)
Alpha Hedged Strategies Fund Passes the $100 Million in Net Assets
Mark and Continues to Attract New Investors Alpha Hedged Strategies
Fund Adds Gabelli Asset Management and G2 Capital Management to Its
Sub-Advisory Roster WHITE PLAINS, N.Y., May 9
/PRNewswire-FirstCall/ -- Alternative Investment Partners, LLC
(AIP) is pleased to announce a number of significant milestones for
its 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
continues to attract new investors, and recently passed the $100
million mark in net assets. The Fund has also recently qualified to
be listed daily in print publications such as the Wall Street
Journal, Barron's and The New York Times. "The registered advisor
community has really warmed up to alternative strategies, and
especially to the concept of a multi-strategy product like ours,"
said Lee Schultheis, Chief Investment Strategist and co-founder of
AIP and the Alpha Hedged Strategies Fund. "Since financial
intermediaries have a preference for the open-end mutual fund
structure, Alpha Hedged Strategies Fund represents a compelling
alternative to traditional hedge fund-of-funds for their high net
worth clients. They also tend to agree with the Fund's strategy of
seeking more consistently positive annual returns, with lower
market exposure, risk and volatility, than if it utilized a single
manager or single strategy approach." With the recent additions of
Gabelli Asset Management, to run its merger arbitrage strategy, and
G2 Capital Management, to manage its deep discount value long/short
equity strategy, Alpha Hedged Strategies continues to take the lead
in offering a diversity of alternative investment styles and
managers to the mutual fund marketplace. As a multi-strategy fund,
Alpha Hedged Strategies Fund, gives its investors exposure to a
broad variety of alternative styles including: Distressed
Securities, Earnings Revision Long/Short Equity, Momentum
Long/Short Equity, Tactical Allocation Long/Short Equity, Deep
Discount Value Long/Short Equity, Merger Arbitrage, Fixed-Income
Arbitrage, and Convertible Bond Arbitrage. The Alpha Hedged
Strategies Fund continued to deliver strong performance, Ranking #1
in Morningstar's Conservative Allocation Category* for the one-year
period ending 3/31/05 among 376 funds. Morningstar rankings are
based on total return. The Fund was up 14.09% for this same
one-year period, and the annualized return from inception on
9/23/02 through 3/31/05 was 6.87%. 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. 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. "Advisors know that they have to be able to offer
conservative, all-weather choices to their clients," Mr. Schultheis
noted. "By delivering both a conservative portfolio risk profile
and strong risk-adjusted performance, Alpha Hedged Strategies has
garnered both increased media exposure, and investor interest."
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 -
5/05) About the Alpha Hedged Strategies Fund The Alpha Hedged
Strategies Fund 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).
Contact: Jennifer Connelly AIP Funds, JC Public Relations
908-813-2478 This press release 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 AIP Funds Web site:
http://www.aipfunds.com/
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