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Whitebox Unconstrained Income Fund in registration/prospectus
Very interesting……looks like he is shorting lots of bonds in WBMAX….I wonder where he is going to get the "income"….I know there are other vehicles to do that, but intriguing as to why he is starting this fund now.
Expenses over 2%, since the cap isn't guaranteed; 3 years to recapture unreimbursed expenses. Can essentially buy or short anything that pays interest or dividends. Can use derivatives and similar instruments. Might be the mother lode, for the manager. Seems to me that this would only be useful to "dampen volatility" for a semi-short term investor (and one would have to put a big chunk in), but for longer term there must be multiple more appealing choices. Difficult to overcome the ER in an "income" fund.
Reply to @STB65: Just what fund investors need, another Unconstrained Bond Funds. Regards, Ted Relinked of Washington Post article on Unconstrained Bond Funds:
Comments
Might be the mother lode, for the manager.
Seems to me that this would only be useful to "dampen volatility" for a semi-short term investor (and one would have to put a big chunk in), but for longer term there must be multiple more appealing choices. Difficult to overcome the ER in an "income" fund.
Regards,
Ted
Relinked of Washington Post article on Unconstrained Bond Funds:
http://www.washingtonpost.com/business/unconstrained-bond-funds-what-you-should-know/2014/01/31/7677d07a-8ab1-11e3-a760-a86415d0944d_print.html
Regards,
Ted