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Arden Asset Management Launches Novel $700 Million Mutual Fund Providing Hedge Fund Manager Access with Daily Liquidity
Fund Represents a Landmark in Expanding the Investable Universe for Retirement Assets and Complements Existing Institutional Focus

NEW YORK - Monday, December 17th 2012 [ME NewsWire]

(BUSINESS WIRE)-- Arden Asset Management LLC ("Arden”), a leading independent alternative asset management firm with approximately $7.5 billion under management, announced that it has launched an open-end mutual fund with more than $700 million in assets as of December 17, 2012. The Arden Alternative Strategies Fund (Ticker: ARDNX), which offers investors access to professionally-managed hedge fund strategies, seeks to achieve capital appreciation. In pursuing this objective, the Fund seeks to achieve a relatively low correlation to the major equity and fixed income markets in a daily liquidity format.

The Fund complements Arden's core business of providing customized hedge fund solutions, managed accounts, commingled vehicles and other vehicles for its global institutional and pension fund clients.

Averell H. Mortimer, President and Chief Executive Officer, said, "As the global population lives longer and takes greater control over their financial planning, there is a growing need for access to alternative investment products, particularly in the defined contribution area. We are thrilled to offer diversified, alternative investment strategies through our innovative daily liquidity product. Delivering greater access and choice is clearly the wave of the future and we believe our program is an excellent way to add portfolio diversification and represents a landmark in expanding the investable universe for retirement assets. We think this fund is a real game changer.”

"We’re particularly gratified by the high quality of the underlying investment managers in the program and their recognition of the importance of this opportunity as a way to participate in secular growth in self directed retirement assets,” said Henry P. Davis, Managing Director, who led the Arden team for the mutual fund initiative.

Founded in 1993, Arden Asset Management LLC is a leading global alternative asset management firm with offices in New York and London. Arden is a registered investment adviser with the US Securities and Exchange Commission (SEC) and Arden's affiliate, Arden Asset Management (U.K.), Ltd. is authorized and regulated by the U.K. Financial Services Authority (FSA). Arden’s institutional and individual investors include taxable and non-taxable clients from the United States, Canada, South America, the United Kingdom, Europe, Australia, Japan and Asia ex-Japan.

The Fund may shift allocations among managers and/or strategies at any time. Further, the Adviser, on behalf of the Fund, may determine to not employ at all one or more of the above-referenced strategies or managers, or to add new managers and strategies. Accordingly, the currently anticipated managers above are presented for illustration purposes only, and should not be viewed as predictive of the ongoing composition of the Fund’s portfolio (and its managers), which may change at any time.

* The Fund is distributed by Arden Securities LLC. Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund before investing. To obtain a prospectus containing this and other important information, please call 866-773-7145 or visit www.ardenfunds.comto view or download a prospectus online. Read the prospectus carefully before you invest.

The Fund's investments are subject to a variety of risks which cause the Fund's net asset value to fluctuate. Therefore, the value of your investment in the Fund could decline and you could lose money. The actual risk exposure taken by the Fund in its investment program will vary over time, depending on various factors including, but not limited to, the Adviser's allocation decisions. Many of the Fund's strategies involve "speculative" investment programs. Thus, as an investor in the Fund, you could be subject to much greater risk of loss than an investor in other more traditional mutual funds. Also, there is no assurance that the Adviser or the Sub-Advisers will achieve the Fund's objective. As an investor in the Fund, your investment is subject to various risks - please review the prospectus for details of risks to which the Fund is subject.

Shares of the Fund may fall in value and there is a risk you could lose money by investing in the Fund.

SEC registration does not imply a certain level of skill or training, or approval by the SEC.


Sard Verbinnen & Co

Jonathan Gasthalter/Paul Caminiti, 212-687-8080

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