The market for alternative mutual funds continues to expand rapidly. Alternative mutual fund assets enjoyed double digit asset flow growth in 2014. There were also 12 new closed-end alternative filings in 2014. For 2014, 65% of investors said hedge funds met or exceeded their expectations. Not surprisingly, more than 25% of institutional investors plan to increase alternative allocations in 2015 and 40% of investment consultants plan to do the same.*