Performance

Performance profile: Whitebox outperforms

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Andy Redleaf's Whitebox Advisors came out swinging in January, with its convertible fund gaining an estimated net return of 2.11%.

The Minneapolis firm's other strategies - high yield, diversified convertible, small-cap market neutral and statistical arbitrage - also started the year on a firm footing, with all but the stat arb fund gaining more than 1% for the month.

Those gains come on top of impressive performance in 2006. Whitebox Convertible Arbitrage Fund, for example, produced a net return of 19.72%, while Whitebox Concentrated Convertible Fund returned more than 23.7%. The firm's Combined Fund was up almost 19.4% for