Hatteras Funds, the alternative investment manager, has selected Advisors Asset Management as its distribution partner, to service the funds to financial advisors at Merrill Lynch and Wells Fargo.

The distribution team will consist of 60 sales staff from Advisors Asset Management, and 12 alternative investment specialists from Hatteras, and will service funds for the 20,000-strong combined advisory force at Merrills and Wells.

Hatteras manages several alternative mutual funds, which it says can offer access to alternative asset classes, such as long/short debt and equity, with daily liquidity and position-level transparency.