Whitebox Advisors today unveiled its second alternative mutual fund to the retail market.
The Minneapolis fund firm, which manages $2.3 billion in total assets, announced today that it is opening its Whitebox Long Short Equity fund to retial investors. The fund invests in U.S. listed equity securities using a hybrid quantitative and fundamental investment approach.
The fund charges a maximum sales load of 4.5% for investor shares and none for advisors and institutional shares. Operating expenses include a 1% management fee for all share classes, and 12b-1 fees of 25 bps for investor and advisor shares only. It is run by senior portfolio manager Kurt Winters, as well as Paul Karos and global head of equity Jason Cross.
“Having a quantitative approach provides an objective counterbalance to the inherent risk of human biases,” stated Winters. “On the other hand, qualitative human analysis can identify blind spots and put model outputs in context.”