Nasdaq - Delayed Quote USD

The Arbitrage Fund (ARBNX)

13.12 +0.04 (+0.31%)
At close: April 26 at 8:01 PM EDT

Fund Summary

The fund will invest at least 80% of its net assets in equity securities of companies (both U.S. and foreign) that are involved in publicly announced mergers, takeovers, tender offers, leveraged buyouts, spin-offs, liquidations and other corporate reorganizations. Equity securities include common and preferred stock. Merger arbitrage is a highly specialized investment approach designed to profit from the successful completion of mergers, takeovers, tender offers, leveraged buyouts, spin-offs, liquidations and other corporate reorganizations.

The Arbitrage Fund

Oaks, PA 19456
C/O Sei Global Funds Services 1 Freedom Valley Drive

Fund Overview

Category Event Driven
Fund Family Arbitrage Fund
Net Assets 992.16M
YTD Return 1.06%
Yield 0.25%
Morningstar Rating
Inception Date Oct 17, 2003

Fund Operations

Last Dividend 0.03
Last Cap Gain -7.00
Holdings Turnover 197.00%
Average for Category --

Fees & Expenses

Expense ARBNX Category Average
Annual Report Expense Ratio (net) 1.35% 1.90%
Prospectus Net Expense Ratio 1.35% --
Prospectus Gross Expense Ratio 1.35% --
Max 12b1 Fee -- --
Max Front End Sales Load -- 4.94%
Max Deferred Sales Load -- 1.00%
3 Yr Expense Projection 0 --
5 Yr Expense Projection 0 --
10 Yr Expense Projection 0 --

Management Information

John S. Orrico, Lead Manager since September 18, 2000
Mr. Orrico founded Water Island Capital, the advisor to The Arbitrage Funds, in 2000. He currently serves as Chairman of The Arbitrage Funds series trust and Chief Investment Officer of the firm. Prior to founding Water Island Capital, Mr. Orrico directed arbitrage, special situations, and distressed hedge fund portfolios at Lindemann Capital, which he joined in 1999, in conjunction with starting the organizational process for the Arbitrage Fund. Prior to joining Lindemann Capital, Mr. Orrico joined Gruss & Co in 1994, focusing on merger arbitrage and special situations, and became Senior Arbitrage Analyst in 1996. Mr. Orrico has worked in the securities industry since joining Morgan Stanley in 1982, beginning in corporate finance, with additional experience in institutional equity trading, equity research analysis and portfolio management. Mr. Orrico received a BA from Georgetown University.

Morningstar Style Box

Yahoo partners with Morningstar a leading market research and investment data group to help investors rate and compare funds on Yahoo Finance. The Morningstar Category is shown next to the Morningstar Style Box which identifies a fund's investment focus, based on the underlying securities in the fund. MORNING_STAR_STYLE_BOX

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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