About AGEAX
Water Island Event-Driven Fund Class A is a mutual fund focused on achieving capital growth through an event-driven investment strategy. Its primary function is to invest in the equity and debt of companies experiencing significant corporate events such as mergers, acquisitions, restructurings, spin-offs, and other types of business reorganizations. The fund utilizes a multi-strategy approach, employing techniques like merger arbitrage, convertible arbitrage, and capital structure arbitrage, aiming to deliver consistent absolute returns while maintaining lower volatility and low correlation relative to broader equity markets.
The fund maintains a diversified portfolio across various industries, with investments in healthcare, energy, technology, and consumer sectors, among others. Holdings often include both common stocks and debt securities, including high-yield bonds, of companies at the center of corporate actions. Water Island Event-Driven Fund Class A plays a specialized role in the financial market as an alternative investment, offering investors exposure to event-driven opportunities and seeking returns less dependent on general market direction. Its strategy is particularly notable for attracting those interested in corporate deal flow and special situations within the investment landscape.
Fund Family Arbitrage Fund
Category Event Driven
Performance Rating Average
Risk Rating Average
Stock Exchange Nasdaq
Ticker Symbol AGEAX
Share Class Class A
Index ICE BofA US 3-Month T Bill TR IX
AGEAX had a total return of 7.13% in the past year, including dividends. Since the fund's
inception, the average annual return has been 2.40%.
