Hatteras Long/Short Equity

Fund

Fund Investment Objectives

Hatteras Long/Short Equity Fund seeks to achieve consistent returns with moderate correlation to traditional U.S. equity market indices and lower volatility of monthly returns over a market cycle. The Fund is designed as an equity complement plus a single hedge fund strategy plus a multiple hedge fund manager. The portfolio will Increase long/short equity exposure without compromising liquidity plus a hedged equity allocation designed to mitigate risk.