Whitebox's two new alternative mutual funds managed by hedge fund team

By Toni Weeks

San Diego, Jan. 10 - Whitebox Advisors announced the launch of two alternative mutual funds, the Whitebox Tactical Opportunities Fund and the Whitebox Enhanced Convertible Fund.

The Tactical Opportunities Fund is currently available to investors and trades under the symbol "WBMAX." The fund will tap into the firm's research and quantitative tools to identify and exploit mispricings, dislocations and anomalies in and between markets and asset classes.

The Enhanced Convertible Fund is expected to be offered during the first quarter of 2012 and will trade under the symbol "WBNAX." The fund will invest in convertible securities that may be overlooked by the hedge fund due to difficulties for arbitrage but are appropriate for a mutual fund investment.

According to a press release, Whitebox will not create a new team of mutual fund investment professionals to manage the fund but will tap into its top hedge fund managers.

"Whitebox Mutual Funds will be managed by the same senior-level investment professionals who manage the hedge fund portfolios, and our global heads of credit, event and equity will manage the risk," president Mark Strefling said in the release.

"With sophisticated investment tools and professionals, Whitebox Mutual Funds are designed to invest across strategies, asset classes and capital structures, all of which truly differentiates us from other mutual funds."

Whitebox is an investment adviser based in Minneapolis.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.