Simple Alternatives adds director of strategic development

H. Bruce Bond was hired by hedge fund mutual fund manager Simple Alternatives as senior partner and director of strategic development. He also is a minority investor in the firm, confirmed Bill Conboy, a company spokesman, in an e-mail.

The position is new.

Mr. Bond retired in 2009 as CEO of ETF provider Invesco (IVZ) Powershares and hasn't been involved in the money management industry since then, Mr. Conboy said.

“There are many parallels between the current growth opportunity for '40 Act alternative mutual funds and the early days of the wildly successful ETF business,” said Jim Dilworth, Simple Alternatives' founder and CEO, in a company news release.

“Bruce's involvement and investment are important building blocks that will allow us to enhance our product development and distribution capabilities,” Mr. Dilworth added.

Simple Alternatives managed $91 million as of Nov. 30 in its S1 Fund, a daily-valued mutual fund that uses a hedge fund-of-funds approach to manage a long/short equity strategy.