The Arbitrage Event-Driven Fund, launched October 1, 2010, seeks to achieve capital growth through event-driven investing. Event-Driven investing is a highly specialized strategy designed to profit from the behavior of both equity and fixed-income securities trading within the timelines of specific corporate events, such as mergers, acquisitions, recapitalizations, restructuring, refinancing, corporate distress, and bankruptcy. The Arbitrage Event-Driven Fund takes an opportunistic and flexible multi-strategy approach to event-driven opportunities through the use of various investment strategies including, but not limited to, merger arbitrage, convertible arbitrage, and capital structure arbitrage. Water Island Capital utilizes active hedging methodologies and fundamental research in an attempt to provide low volatility, low correlation, capital growth, and absolute returns. Institutional investors have relied on event-driven investing for decades. Most often, the strategy is pursued in private accounts or hedge fund vehicles; however, the strategy is readily deployed in a mutual fund format.
The Arbitrage Funds are distributed by ALPS Distributors Inc., which is not affiliated with the advisor or any of its affiliates.