Nasdaq - Delayed Quote USD

Water Island Event-Driven Fund Class C (AEFCX)

10.99 -0.01 (-0.09%)
As of November 24 at 8:00 PM EST. Market Open.

Fund Summary

The investment seeks to achieve capital growth. The fund invests in equity and debt and debt-like instruments (including high yield bonds commonly known as "junk bonds") of companies whose prices the fund's investment adviser believes are or will be impacted by a corporate event. Specifically, the fund employs investment strategies designed to capture price movements generated by corporate events such as mergers, acquisitions, asset sales, restructurings, refinancings, recapitalizations, reorganizations or other special situations (referred to as "event-driven opportunities"). It is non-diversified.

Water Island Event-Driven Fund Class C

Arbitrage Funds
C/O Sei Global Funds Services 1 Freedom Valley Dri
800-295-4485

Fund Overview

Category Market Neutral
Fund Family Arbitrage Fund
Net Assets 124.5M
YTD Return 3.39%
Yield 0.00%
Morningstar Rating
Inception Date Jun 01, 2012

Fund Operations

Last Dividend 0.05
Last Cap Gain 0.00
Holdings Turnover 397.00%
Average for Category --

Fees & Expenses

Expense AEFCX Category Average
Annual Report Expense Ratio (net) 2.59% 2.03%
Prospectus Net Expense Ratio 2.59% --
Prospectus Gross Expense Ratio 2.81% --
Max 12b1 Fee 1.00% --
Max Front End Sales Load -- 4.75%
Max Deferred Sales Load 1.00% 1.27%
3 Yr Expense Projection 850 --
5 Yr Expense Projection 1,465 --
10 Yr Expense Projection 3,122 --

Management Information

Todd W. Munn, Lead Manager since October 01, 2010
Munn is a portfolio manager of Water Island Capital, LLC. Prior to becoming a portfolio manager of the Fund, Mr. Munn was a senior equity analyst for the Fund. Mr. Munn received a Master of Business Administration degree from Fordham Graduate School of Business in 2003 and a Bachelors degree from Gettysburg College in 1993 — with a double major in Finance and Accounting.

Morningstar Style Box

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Morningstar Category

While the investment objective stated in a fund's prospectus may or may not reflect how the fund actually invests, the Morningstar category is assigned based on the underlying securities in each portfolio. Morningstar categories help investors and investment professionals make meaningful comparisons between funds. The categories make it easier to build well-diversified portfolios, assess potential risk, and identify top-performing funds. We place funds in a given category based on their portfolio statistics and compositions over the past three years. If the fund is new and has no portfolio history, we estimate where it will fall before giving it a more permanent category assignment. When necessary, we may change a category assignment based on recent changes to the portfolio.

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