April 16, 2012
Whitebox Readies Push into RIA Channel
Minneapolis-based Whitebox Advisors, the $2.3 billion asset management firm founded by Andrew Redleaf, is making a concerted push into the Registered Investment Advisor channel with the help of third-party marketing firm Havener Capital Partners LLC.
Whitebox Mutual Funds' flagship fund, Whitebox Tactical Opportunities, invests in a variety of securities including equities, debt, convertible securities, and derivatives, often employing classic "hedge fund" strategies.
"We have been patiently waiting for best-of-breed hedge fund firms to launch mutual fund products," stated Stacy Havener, president of the Providence, R.I.-based marketing shop. "RIAs have told us that they are looking for liquid alternatives and that they are looking for 'something different.'"
ETFs Rake in $14B
Exchange-traded funds took in more than $14 billion bringing their total assets to $1.2 trillion as of March 31, according to State Street Global Advisors' ETF Snapshot report for March 2012.
The top three managers in the U.S. ETF marketplace in March were BlackRock, State Street and Vanguard, accounting for some 83% of the U.S.-listed ETF market. And the top three ETFs in terms of assets for the month were the SPDR S&P 500[SPY], SPDR Gold Shares [GLD] and Vanguard Emerging Markets [VWO].
Also, the top three ETFs as measured by dollar volume traded for the month were the SPDR S&P 500 [SPY], the iShares Russell 2000 [IWM] and the PowerShares QQQ [QQQ].
Guggenheim, JP Morgan Embark on Alts Roadshow
A group of alternative mutual funds is kicking off its second annual advisor road show today in hopes of educating advisors on the benefits of alternative investing and, ultimately, winning business.
The firms sponsoring the 2012 tour include Altegris, Driehaus, Eaton Vance, Forward, Guggenheim Investments, JP Morgan, Fortigent, Morningstar and Ramius.
While the 2011 roadshow served as a broad introduction to alternatives, this year's seven-city tour emphasizes ways to utilize them in portfolio construction. Every stop on the tour will include portfolio implementation educational session, giving advisors the opportunity to hear about best practices from portfolio construction gurus.
The roadshow, which kicks off at the Morningstar Auditorium in Chicago, will make additional stops in Philadelphia (April 12), Denver (May 1), Dallas (May 3), Palo Alto, Calif. (May 15) and Seattle (May 17) before wrapping up in New York on May 22.