Michael Hutten has rejoined Hatteras Funds, the alternative investment manager, as executive director - a role in which he will lead sales initiatives in the western US region, based in Santa Barbara, CA.

Hutten returns to the firm having served as western regional director from August 2006 until March 2011. In his new role, he will focus on business development and client relations, serving investment consultants, RIAs, and broker-dealers.

“Hatteras believes that advisors will continue to face challenges using only equities, bonds and cash to create portfolios that meet investors’ return targets,” the firm said.

It believes there is strong demand from advisors for alternative investments, and Hutten is charged with drawing on opportunities from this, as they adjust asset allocation and portfolio construction strategies toward alternatives.

Hatteras Funds was founded in 2003 and is based in Raleigh, NC. It manages $2 billion in alternative investment strategies for a broad range of institutions, endowments, pensions and HNW individuals.