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I think it's an interesting fund, although turnover is Heebner-esque at 400+% Expenses are a little high, but not that unusual for a long-short fund. Speaking of, why is this classified as a Mid-Cap fund when it's a long-short fund?
MARNX is interesting. But at this point, at least, it has not shown the kind of risk profile I find attractive in MFLDX. While MARNX appears to out-perform in up markets, its downside capture is significantly higher than MFLDX. This could change as its asset base increases, I suppose. And MFLDX appears to have a much more varied and higher shorting percentage than MARNX. The other wait-and-see factor with MARNX is that it started AFTER the 2008 sell off, so we do not have any clue as to how the fund will react to another awful year. The fees are not an issue, since long-short funds have higher expenses. It will be a fund to watch. The biggest drawback is the huge number of managers given the teeny asset size of the fund. I don't see much advantage to this.
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