Why a Lone-star Manager Sees Greener Pastures in Mutual Funds

Salem Abraham is converting his Fortress hedge fund.

( David Paul Morris/Bloomberg)

( David Paul Morris/Bloomberg)

“The best little hedge fund in Texas,” as one wag dubbed it, is taking its show to the public.

The three-decades-plus-old Abraham Trading Co., based in the Texas Panhandle town of Canadian, is shutting the doors on its flagship hedge fund, Abraham Fortress, and relaunching it as a staid and sober-minded mutual fund.

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