MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, January 4, 2012 Hedger Whitebox Sees Value in Mutual Funds Expertise Minneapolis-based Whitebox Advisors adding to its staff and is currently in the process of launching another mutual fund sometime this quarter. The launch follows its opening of a quant mutual fund last month. In December the firm launched the Whitebox Tactical Opportunities Fund. That mutual fund is a go-anywhere credit and equity offering. The planned mutual fund will be the Whitebox Enhanced Convertible Fund, a convertible securities-focused offering. The plan is to cap the fund at $200 million of AUM, this quarter. An executive at the mutual fund advisor confided they have more alternative credit mutual fund offerings for later in the year or early next year. Mark Strefling, president of Whitebox Mutual Funds, told the MFWire that "We're responding to a number of things in the marketplace such as liquidity, transparency and mutual fund products versus a traditional hedge fund LP structure." He added that the firm may hire dedicated personnel for the new mutual funds. Strefling also said that the firm is looking to distribute its funds on a number of platforms including Charles Schwab, Fidelity and Merrill Lynch. Printed from: MFWire.com/story.asp?s=38736 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |