Hatteras Funds this week
Robert Worthington, president of Hatteras, told Money Management Executive that the firm is currently talking with a number of medium and large insurance companies and “we’re in pretty serious discussions with one”. He anticipates inking another deal with an insurance concern in the fourth quarter.
“We set up an insurance trust and now we can offer funds within their variable annuities business,” he said. “Insurance companies want to employ hedging strategies in their offering. The universe of alternative funds has grown and insurance companies can now do better due diligence and choose better alternative mutual funds for their clients.”
He also mentioned that the firm is exploring the bank trust channel as another distribution avenue for its products. Robert Brown is the director of sales and marketing for the firm and Dario Craddock is the vice president of national accounts, insurance and independent broker-dealer channels
On the product development front, Worthington said the firm is planning to launch a managed futures mutual fund in Q4 that will bet on five managers as well as one to two “select, niche products” next year.