+Wasatch Long/Short (FMLX) has reappeared in The Rukeyser 100’s Aggressive Growth category this month and last month. The fund fell off our list after posting an 8.6 percent loss in the second quarter of 2010. Managers Michael Shinnick and Ralph Shive have put the fund back on track and are once again trouncing most of their long/short equity peers. The fund ranks in the top 1 percent of its category on a one- and three-year basis, while charging an annual expense ratio of 1.34 percent–well below the category average. Wasatch Long/Short is an excellent option for investors seeking to add an alternative strategy fund to their portfolio.

*TFS Market Neutral (TFSMX) had a long run in The Rukeyser 100 before closing its doors to new investors last year. But the fund has opened the gates again, albeit on a very limited basis. Management has decided to grow the fund’s asset bases to $1.7 billion–a level it’s quickly approaching–by accepting new money from existing investors. If you still hold the fund, this is your opportunity to grow your stake.