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Wednesday, February 05, 2014

...Which is Why a Whitebox Fund Has a New Moniker

Reported by Tommy Fernandez

Sometimes you have to make it simple for some folk.

Alts shop Whitebox is renaming one of its alts funds because people couldn't quite figure out whether it was an alt or not.

As a result, the Whitebox Long Short Equity Fund is now known as the Whitebox Market Neutral Equity Fund.

Whitebox's head of distribution, Mike Coffey, who is working to build up the firm's distribution team said that "the new name more clearly defines how the fund is managed, a market neutral equity fund.  Also, helps eliminate any confusion with the Tactical Opportunities Fund which is categorized by Morningstar as a Long/Short Equity Fund."

Currently, the Tactical Opportunities fund has assets of $528 million, while the Market Neutral product has an AUM of $71 million.

And yes, Coffey said "education around alternatives and the role they play in a portfolio will be an ongoing need of investors and advisors." 

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