Mutual funds that follow alternative investment strategies, often referred to as “liquid alternatives,” provide alternative investment opportunities to non-accredited investors.  A recent pair of panel discussions sponsored by BNY Mellon considered the current state of the market for alternative mutual funds.  The first panel provided insights on the supply of such funds from hedge fund and traditional asset managers.  The second panel considered the demand for alternative mutual funds, with a focus on defined contribution plans.  This article provides a long-form summary of both panels, which offered actionable insights for hedge fund managers considering entering the mutual fund space.