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Rating:One Liquid Alt Fund Shutters, While Its Sibling Gets Cheaper Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, February 29, 2016

One Liquid Alt Fund Shutters, While Its Sibling Gets Cheaper

News summary by MFWire's editors

A hedge fund shop in Florida is shutting down its first liquid alt mutual fund. Yet the shop is also trimming the fees on its second liquid alt fund.

Dorothy Weaver
Collins Capital Investments, LLC
Chairman and Chief Executive Officer
Miami-based Collins Capital Investments filed to liquidate the one-star, multi-manager Collins Alternative Solutions Fund, effective February 26. Svea Herbst-Bayliss of Reuters reported on the liquidation.

Meanwhile, a month ago Collins filed to cut the $7.5-million, single-manager Collins Long/Short Credit Fund's management fees by 40 basis points (to 135 bps) and the operating expense limit by 50 bps (to 145 bps for institutional shares and 170 bps for A shares), effective February 1.

Ex-Miami Fed chair Dorothy Weaver co-founded the hedge fund shop in 1995. In the spring of 2012 Collins entered the mutual fund side of the business by launching the Collins Alternative Solutions Fund. Per Reuters, that fund peaked at $175 million before suffering performance woes. Weaver and Collins' Steve Mason PMed the fund, which had been subadvised by Cambridge Strategy, Clinton Group, Pinebank Asset Management, Seven Locks Capital Management, and Whitebox Advisors.

Collins launched its second mutual fund, the Collins Long/Short Credit Fund, a year ago. That fund is subadvised by one of the other fund's subadvisors, Pinebank, and PMed by Collins' Mason and by Pinebank chief investment officer Oren Cohen.

As of Collins' most recent ADV, filed on March 27, 2015, its RIA had about $462 million in discretionary AUM. 

Edited by: Neil Anderson, Managing Editor


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