About AEDNX
Water Island Event-Driven Fund Class I is an open-end mutual fund focused on alternative, event-driven investment strategies, primarily seeking capital growth. The fund targets opportunities created by anticipated corporate events, such as mergers, acquisitions, asset sales, restructurings, refinancings, recapitalizations, and other special situations. Employing a multi-strategy approach—including merger arbitrage, convertible arbitrage, and capital structure arbitrage—the fund invests in both equity and debt instruments, including high-yield bonds, of companies expected to be impacted by these events.
Notably, the fund can allocate assets across various sectors and market capitalizations, and may invest in both U.S. and international securities as well as derivatives and ETFs. Its diversified portfolio is designed to capture unique, time-sensitive price movements while seeking to limit correlation with broader market trends, offering potential for more stable, absolute returns over time. The fund is classified as institutional, requiring a high minimum investment, and emphasizes flexibility and adaptability to evolving market conditions and corporate activity cycles.
Fund Family Arbitrage Fund
Category Event Driven
Performance Rating Above Average
Risk Rating Average
Stock Exchange Nasdaq
Ticker Symbol AEDNX
Share Class Class I
Index ICE BofA US 3-Month T Bill TR IX
AEDNX had a total return of 7.48% in the past year, including dividends. Since the fund's
inception, the average annual return has been 3.23%.
