Wednesday, 28 September 2016
Last updated 3 hours ago
Jan 4 2012 | 11:11am ET
Whitebox Advisors is set to become the latest hedge fund to jump into the mutual fund business with the launch of two products.
The Minneapolis-based firm will roll out the two funds to the public this quarter, HFMWeek reports. "There is a market demand for registered mutual fund products," Whitebox Mutual Funds President Mark Strefling said. "But, in addition, more fundamentally, the mutual funds provide access to alternative investment talent to high-net worth investors who would not be suitable for traditional hedge fund structures."
The two mutual funds will focus on tactical opportunities and the convertibles market. The $2 billion firm hopes to raise several hundred million for the former, while the Enhanced Convertible Fund is capped at $200 million.