Investment Objective

Seeks long-term absolute (positive) returns.

Investment Approach

The Fund Invests in a combination of arbitrage strategies such as merger arbitrage, convertible arbitrage, and other forms of arbitrage.

Merger Arbitrage: This strategy consists of buying shares of the target company in a proposed merger, and fully or partially hedging the exposure to the acquirer by shorting the stock of the acquiring company or other means.

Convertible Arbitrage: This strategy consists of buying convertible securities and attempting to mitigate the various risks associated with this investment by using a variety of techniques such as shorting the stock of the issuer.

Other forms of arbitrage include: "when-issued tracking", "stub-trading", "dual-class arbitrage", price pressure and SPACs (special purpose acquisition companies).

Performance Summary