Raleigh, NC-based Hatteras Funds, the alternative investment manager, has launched the Hatteras Managed Futures Strategies fund, designed to help advisors and investors allocate more to alternatives without sacrificing liquidity.

The fund invests in an existing $56 million strategy of the Hatteras Alpha Hedged Strategies fund, a multi-strategy, multi-manager alternative mutual fund. The Hatteras Alpha Hedged Strategies fund will be offered as a standalone fund and currently has four managed futures managers in the portfolio.

In other recent developments, at the end of August the firm promoted Robert Murphy to chief investment officer of the its alternative mutual funds. Murphy leads the investment team while continuing in his role as director of risk management. He also remains as co-portfolio manager of the alternative mutual funds, alongside Mike Hennen.

Hatteras Funds manages $2 billion in alternative investment strategies for a range of institutions, endowments, pensions and high net worth individuals.