RIDGEFIELD, CT--(Marketwired - Jun 17, 2013) - Simple Alternatives, LLC, a leading alternative mutual fund company focused on providing investors better access to hedge fund managers, announced today the addition of Bruce Garelick of Garelick Capital Partners and Alexander Fodor of Sonica Capital LLC as new sub advisors to the S1 Fund. The S1 Fund (NASDAQ: SONEX) is a multi-manager, long/short equity mutual fund.

"Bruce Garelick and Alexander Fodor are both very impressive long/short equity managers," said Simple Alternatives Founder and CEO, James K. Dilworth. "We believe their unique styles will greatly complement our existing team of managers for the S1 Fund."

Bruce Garelick is the founder of Garelick Capital a Boston-based long/short equity fund. Garelick previously managed the long/short technology portfolio at Adage Capital Management, L.P. The investment process at Garelick Capital Partners is driven by a meticulous bottoms-up fundamental research process which allows them to focus on stock specific ideas while not being macro dependent or focused on short term volatility.

Alexander Fodor is the CEO and CIO of Sonica Capital LLC, a New York-based long/short equity fund. Founded in November 2008, Sonica's long/short equity strategy has provided superior risk-adjusted returns since inception, with no down calendar years. Prior to founding Sonica, Alexander worked at Izara Capital Management, LLC, a spin-out of Maverick Capital.

"We are delighted to see the continued growth in assets for the S1 Fund," continued Dilworth. "Our clients are sophisticated advisors who are inspired by our commitment to working with only the highest quality boutique managers." Dilworth further explained, "They value the fact that our managers run legitimate short books which is a distinguishing advantage in the world of liquid alternatives."

Through a disciplined investment process that focuses on strategy allocation, manager selection and risk management, the S1 Fund seeks to grow capital regardless of market direction. Financial Advisers use alternative strategies like S1 Fund as a portfolio to add diversification and potential downside protection during market volatility.

About Simple Alternatives, LLC

Simple Alternatives is an investment manager focused on liquid alternative strategies. The company is 100% independent and employee owned. Simple Alternatives' S1 Fund (SONEX) is a multi-manager mutual fund that utilizes a portfolio of skilled (fundamentally-based) long/short equity managers each of whom brings a unique edge to the portfolio. The S1 Fund (the "Fund") seeks to provide long-term capital appreciation with an emphasis on absolute (positive) returns and low correlation to traditional financial market indices such as the S&P 500® Index. Structured as a mutual fund, the S1 Fund offers direct access to alternative investment strategies to a wide range of investors, with the benefits of daily liquidity, high transparency and low investment minimums.

For more information on Simple Alternatives, LLC and the S1 Fund please visit www.simplealternatives.com

Fund Risks

The Fund is non-diversified and may focus its investments in the securities of a comparatively small number of issuers. Concentration in securities of a limited number of issuers exposes a fund to greater market risk and potential monetary losses than if its assets were diversified among the securities of a greater number of issuers. The Fund may invest in small- and medium-sized companies which involve greater risk than investing in larger, more established companies, such as increased volatility of earnings and prospects, higher failure rates, and limited markets, product lines or financial resources.

The Fund may invest in foreign or emerging markets securities which involve special risks, including the volatility of currency exchange rates and, in some cases, limited geographic focus, political and economic instability, and relatively illiquid markets.

The Fund may invest in debt securities which are subject to interest rate risk. An increase in interest rates typically causes a fall in the value of the debt securities in which the Fund may invest. The Fund may also invest in high yield, lower rated (junk) bonds which involve a greater degree of risk and price fluctuation than investment grade bonds in return for higher yield potential. The Fund's distressed debt strategy may involve a substantial degree of risk, including investments in sub-prime mortgage securities.

The Fund may purchase securities of companies in initial public offerings. Special risks associated with these securities may include a limited number of shares available for trading, unseasoned trading, lack of investor knowledge of the company and limited operating history. The Fund may leverage transactions which include selling securities short as well as borrowing for other than temporary or emergency purposes. Leverage creates the risk of magnified capital losses.

The Fund may also invest in derivatives which can be volatile and involve various types and degrees of risks, depending upon the characteristics of a particular derivative. The Fund may invest in options and futures which are subject to special risks and may not fully protect the Fund against declines in the value of its stocks. In addition, an option writing strategy limits the upside profit potential normally associated with stocks. Futures trading is very speculative, largely due to the traditional volatility of futures prices.

Investors should carefully consider the Fund's investment objectives, risks, charges and expenses before investing. For a summary prospectus, or prospectus that contains this and other information, call 866-882-1226. Read the prospectus carefully before investing.

The S1 Fund is distributed by Foreside Funds Distributors LLC Berwyn, PA who is not affiliated with Simple Alternatives, LLC

Contact Information:

Press Contact:
Bill Conboy

Investor Contact:
Josh Kernan