Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:M* Calls Out Managed Futures Sleight of Hand Not Rated 2.0 Email Routing List Email & Route  Print Print
Tuesday, November 20, 2012

M* Calls Out Managed Futures Sleight of Hand

News summary by MFWire's editors

Morningstar is accusing a managed futures mutual fund shop of hiding fees.

Jason Kephart of InvestmentNews reports that Knollwood Investment Advisors [profile] switched from having commodity-trading advisers manage slices of its $126-million Grant Park Managed Futures Strategy Fund via separate accounts to using swap agreements. Those separate accounts were charged expense ratios and performance fees, disclosed as underlying fund fees in the prospectus but no longer disclosed.

"They were disclosing it," Nadia Papagiannis, alternatives analyst at Morningstar, told the trade pub. "Now they're hiding it."

Knollwood chairman and chief investment officer David Kavanagh declined to comment to INews.

Watch for other managed futures mutual fund shops to follow suit. Aisha Hunt, partner in Dechert's financial services practices, told the pub that "the vast majority of these funds are leaning towards" Knollwood's move.
"If they don't, they're going to be at a competitive disadvantage," Hunt said. "It's a marketing issue." 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

2.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use