The Wilmington Rock Maple Alternatives Fund has dropped Whitebox Advisors as one its many subadvisors, Money Management Executive has learned. Whitebox no longer serves as the fund’s subadvisor effective November 23, according to a filing.
Also, effective November 27, Daniel Keating, senior analyst at Rock Maple Services, was added as portfolio manager for the fund, replacing Alan Ware, formerly of TIG Advisors, who was removed as PM. The fund’s current subadvisors include Acuity Capital Management, ADAR Investment Management, Calypso Capital Management, Rock Maple Services, TIG Advisors, Water Island Capital, Madison Street Partners, Parametric Risk Advisers and Evercore Wealth Management.
Spokespeople for Wilmington and Whitebox were not immediately available for comment.
The fund currently manages some $38 million in assets and sports a hefty expense ratio of 248 basis points, according to Morningstar.