It may not be the latest junk bond-heavy mutual fund, but moments ago another iconic name in the asset management arena, Andy Redleaf's Whitebox Advisors threw in the towel on rigged markets and announced that it, too, has closed its mutual funds [3]ahead of a January 19, 2016 liquidation.
[4]
According to the funds' overview, "Whitebox Mutual Funds are managed by Whitebox Advisors LLC, (“Whitebox” or the “Adviser”) an SEC-registered investment adviser, founded and led by visionary investment manager Andrew Redleaf."
It appears his vision got clouded when the market would no longer levitate every single day.
Among the funds to be liquidated are:
- the Whitebox Tactical Opportunities Fund (down -9.7% in the quarter, and 16.8% YTD)
- the Whitebox Market Neutral Equity Fund (down 3.7% YTD)
- the Whitebox Tactical Advantage Fund (up 1.58% YTD)
Of these the Tactical Opportunities Fund (mixed 27% equity, 18% fixed income, cash 43%) is by far the bigest (full portfolio as of Sept 30, 2015 here [5]), and its top equity holdings are the following:
[6]
And its largest debt holdings:
[7]
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