Water Island Event-Driven Fund ClassR (AEDFX)
| Fund Assets | 50.13M |
| Expense Ratio | 1.71% |
| Min. Investment | $2,000 |
| Turnover | 195.00% |
| Dividend (ttm) | 0.09 |
| Dividend Yield | 0.68% |
| Dividend Growth | n/a |
| Payout Frequency | n/a |
| Ex-Dividend Date | Dec 18, 2025 |
| Previous Close | 12.67 |
| YTD Return | 0.48% |
| 1-Year Return | 7.01% |
| 5-Year Return | 15.25% |
| 52-Week Low | 11.70 |
| 52-Week High | 12.75 |
| Beta (5Y) | 0.11 |
| Holdings | 152 |
| Inception Date | Oct 1, 2010 |
About AEDFX
Water Island Event-Driven Fund Class R is an open-end mutual fund that focuses on event-driven investment strategies. Managed by Water Island Capital, this fund is designed to seek capital growth through a flexible, opportunistic approach targeting securities affected by significant corporate events. The fund invests in both equity and debt instruments of companies undergoing situations such as mergers, acquisitions, restructurings, or other events that may impact valuation. Its strategy incorporates merger arbitrage, convertible arbitrage, and capital structure arbitrage, aiming to deliver consistent, positive absolute returns with lower volatility and reduced correlation to broader market indices. A notable aspect of the fund is its active and frequent trading to capitalize on event-driven opportunities, sometimes holding substantial cash or short-term investments to maintain flexibility and respond quickly to new events. The fund is non-diversified, meaning it may concentrate holdings in fewer issuers than typical diversified funds. It can also hedge currency risk when investing internationally. By targeting event-driven scenarios, the Water Island Event-Driven Fund Class R serves investors seeking potential returns that are less reliant on general market movements and more driven by specific corporate catalysts.
Performance
AEDFX had a total return of 7.01% in the past year, including dividends. Since the fund's inception, the average annual return has been 4.02%.
Top 10 Holdings
43.44% of assets| Name | Symbol | Weight |
|---|---|---|
| MORGAN STANLEY PRIME BROKER US | n/a | 9.56% |
| Frontier Communications Holdings LLC | FYBR.8.75 05.15.30 144A | 5.00% |
| CyberArk Software Ltd. | CYBR | 4.86% |
| Electronic Arts Inc. | EA | 3.96% |
| Morgan Stanley & Co. LLC - Morgan Stanley Institutional Liquidity Funds - Government Portfolio | MVRXX | 3.57% |
| State Street U.S. Government Money Market Portfolio | GVMXX | 3.57% |
| Endeavor Group Holdings, Inc. | EDR | 3.43% |
| EchoStar Corp | SATS.6.75 11.30.30 | 3.40% |
| TXNM Energy, Inc. | TXNM | 3.17% |
| Chart Industries, Inc. | GTLS | 2.90% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Dec 18, 2025 | $0.08593 | Dec 19, 2025 |
| Dec 14, 2023 | $0.05624 | Dec 15, 2023 |
| Dec 19, 2019 | $0.01911 | Dec 20, 2019 |
| Dec 13, 2018 | $0.13867 | Dec 14, 2018 |
| Dec 14, 2017 | $0.0258 | Dec 15, 2017 |
| Dec 16, 2015 | $0.20271 | Dec 17, 2015 |