If it's a good deal, the shares will trade above the trust value and the warrant will pop. Julian Robertson Opalesque. This is a collection of discounted assets that is itself trading at an additional discount and is probably worth considering for long-term patient investors who want to reap the rewards of Bulldog's Closed-End Fund and activist strategies over time. Elena Ambrosiadou Opalesque. Chenavari Investment Managers: One of Europe's top performing hedge funds. Fliboard icon A stylized letter F. Currently, he has positions in off-the-run companies, including Stewart Information Systems and Emergent Capital. The strategy of buying closed-end funds at a discount has been around as long as closed-end funds have existed. Alert me via email on new comments.
Our clients, high-net-worth individuals and wealth managers, many of whom have trusted us with their funds since Bulldog Investors offers separately managed accounts that invest in municipal bonds and municipal bond closed- end funds. Bulldog Investors is based out of Saddle Brook.
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Bulldog Investors is a large advisory firm with 51 clients and discretionary assets under management (AUM) of. Phillip "Phil" Goldstein is an American investor, former civil engineer, and manager of the hedge fund Bulldog Investors, known for its value-driven investment strategy, its activist investment campaigns and its focus on closed-end mutual funds.
American hedge fund managers · USC Viterbi School of Engineering alumni.
They want to buy funds where the discount is wide enough that they can accumulate a large position with high enough returns to create alpha over the asset class. If it's a good deal, the shares will trade above the trust value and the warrant will pop. Twitter icon A stylized bird with an open mouth, tweeting.
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Elena Ambrosiadou Opalesque. InGoldstein transitioned the fund to an opportunistic strategy, focusing on some of the lesser known corners of the public markets to which most investors lack exposure and changed the name of the fund to better align with the new approach. Currently, he has positions in off-the-run companies, including Stewart Information Systems and Emergent Capital.
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|Chenavari Investment Managers: One of Europe's top performing hedge funds.
Video Library. Funds can buy back shares to attempt to close the gap to NAV or perhaps conduct a tender offer. Link icon An image of a chain link. While it provided decent returns over time, the problem was that for many funds the discount simply never went away.
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First, here is how this strategy works. TV interview Part 2. In the time since Goldstein took over management, the fund has performed impressively, especially if you consider the additional return sources, such as the convertible preferred issues and tender offer.
Eric Rosenfeld: How institutional investors have come to recognize the value of activist investing. Currently, he has positions in off-the-run companies, including Stewart Information Systems and Emergent Capital.
Phil Goldstein, who co-founded Bulldog Investors inis a Principal of the of a number of closed-end funds in which a Bulldog-managed fund maintains a strategic position.
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They want to buy funds where the discount is wide enough that they can accumulate a large position with high enough returns to create alpha over the asset class.
Mikael Stenbom, RPM: Identifying the sweet spot - how managers' corporate life cycle affects returns. Phil Goldstein: The Bulldog's passion for value investing Jan 21 1 Comment Phil Goldstein is co-founder and principal of Bulldog Investors, a well-known value investing group of funds that uses activist investing practices to unlock intrinsic value in publicly traded equity and debt securities.
It indicates a confirmation of your intended interaction. Elena Ambrosiadou Opalesque.
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|It does not make macro calls in its fund selection and bases investing decisions on how much it can make by quickly narrowing the discount to net asset value.
Its goal is to earn positive alpha over the fund's asset class over the period that it ownsthe shares. Doug Barnett: The hedge fund manager of hedge fund managers. The history of my firm starts over 25 years ago when my partner Bob Huffman and I w The main problem is that funds' operators want to keep the fee incomeso they usually don't want to take any action that will reduce their assets and fees.
You know exactly what the discount is and what you can potentially earn if the discount closes.