I am close to taking a leap of faith for diversifying my "Artisan" portfolio. I have some PDRMX in it right now. NLSAX and/or NABAX is what I'm looking at.
Anyone has any insight into these funds. I know NLSAX has come up in discussions, maybe even I started it. It has good manager investment. Same with NABAX, which is quite new - and expensive unfortunately - and is made up of hedge fund managers who also have reasonable investment.
Appreciate any comments.
Comments
Regards,
Ted
In any the idea is allocate 5-10% to alternative investments to reduce volatility of the portfolio. Since my "Artisan" portfolio is largely buy and hold, I'm looking to do this.
Whitebox Tactical WBMRX is no-load, NTF, & reasonable minimum at Fido: $2.5k minimum, 1.61% E.R.
Those are the two alt funds I've been thinking about, but haven't bit on either yet.
For any load funds that have looked good in the past to anybody, it's really worth checking at Fido ... they're waiving loads on lots of A shares now, and A shares typically have halfway reasonable E.R.s too.
WBMRX is the advisor class fund - same or lower ER than the retail shares, just NL. Also available NTF at Schwab, Vanguard, TDAmeritrade, etc. Note that that ER is either 1.93% (prospectus), 1.94% (Annual Report, Jan 2013), or 2.44 (most recent doc - SemiAnnual Report July 2013).
The institutional shares (WMBIX) are the cheaper shares, costing 1.63% per prospectus (1.78% according to the annual report, 2.19% according to the latest semiannual report). M* says 1.61%. But according to Fidelity, you need at least $1M to get those.
However, how did you get past the transaction fee? In any case, when I look at SAI, I see this.
The following table shows the dollar range each portfolio manager owns of the Fund(s) which they manage, as of October 31, 2012. As of October 31, 2012, neither the Whitebox Enhanced Convertible Fund nor the Whitebox Long Short Equity Fund had commenced operations, and did not have any shares outstanding.
Portfolio Manager
Fund
Dollar Range of Amount
Owned in Fund
Andrew Redleaf
Tactical Opportunities Fund None
Robert Vogel
Tactical Opportunities Fund None
Jason Cross
Tactical Opportunities Fund None
One claims to have 35 years of experience running these kind of portfolios and allegedly has the necessary expertise and don't have confidence in your abilities to invest even $1 in your fund. Sorry, I'm not buying.
So instead of NLSAX and NABAX, I could do one of those and use WBMAX. I can wait for few weeks to see how things pan out with Whitebox SAI. Like to research Whitebox little more as well. Not much history there.