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Schwab Embraces Hatteras Futures Fund

Hatteras Funds earlier this month announced that its Hatteras Managed Futures Strategies Fund (HMFIX, HMFAX) is now available on the Charles Schwab Mutual Fund OneSource Platform.

The fund launched on September 27, 2012 and currently manages less than $1 million. Its expense ratio is 259 basis points. The fund currently employs four subadvisors including Dominion Capital Management, 2100 Xenon Group, Northfield Trading and Revolution Capital Management.

According to Hatteras Funds’ president Bob Worthington, the fund is designed to offer low correlation to both broad markets and other managed futures products. “Our fund is designed to potentially generate alpha in a variety of market conditions,” said Worthington. “Our managers can react quickly to changes in the composition of and trading patterns within the futures markets.”