Arbitrage A (ARGAX)
| Fund Assets | 730.76M |
| Expense Ratio | 1.60% |
| Min. Investment | $2,000 |
| Turnover | 162.00% |
| Dividend (ttm) | 0.12 |
| Dividend Yield | 0.90% |
| Dividend Growth | -48.84% |
| Payout Frequency | Annual |
| Ex-Dividend Date | Dec 18, 2024 |
| Previous Close | 13.53 |
| YTD Return | 5.13% |
| 1-Year Return | 5.92% |
| 5-Year Return | 15.23% |
| 52-Week Low | 12.70 |
| 52-Week High | 13.54 |
| Beta (5Y) | n/a |
| Holdings | 108 |
| Inception Date | May 31, 2013 |
About ARGAX
The Arbitrage Fund Class A is a mutual fund that specializes in merger arbitrage, an event-driven investment strategy focused on capitalizing on price discrepancies arising from publicly announced corporate mergers and acquisitions. Its primary objective is to deliver capital growth through systematic investments in companies that are the targets of announced takeover deals. The fund seeks to generate returns by capturing the spread between a target company’s current market price and the acquisition price offered by an acquiring firm. Notably, the fund employs techniques designed to minimize broader market exposure, such as short selling and trading in options, which can help reduce volatility relative to traditional equity investments. Comprised of a diversified portfolio, The Arbitrage Fund Class A typically holds positions across numerous sectors, reflecting the breadth of active merger and acquisition activity. It is categorized as an event-driven fund and is recognized for its low correlation to major market indices, making it a tool for portfolio diversification. The fund’s approach aims to provide steady, absolute returns with lower sensitivity to overall market movements, positioning it as a potential complement to fixed income and traditional equity holdings in investor portfolios.
Performance
ARGAX had a total return of 5.92% in the past year, including dividends. Since the fund's inception, the average annual return has been 2.35%.
Top 10 Holdings
69.29% of assets| Name | Symbol | Weight |
|---|---|---|
| Morgan Stanley & Co. LLC - Morgan Stanley Institutional Liquidity Funds - Government Portfolio | MVRXX | 18.13% |
| State Street U.S. Government Money Market Portfolio | GVMXX | 18.13% |
| Amedisys Inc. | AMED | 6.21% |
| Water Island Event-Driven Fund I | AEDNX | 4.84% |
| ANSYS, Inc. | ANSS | 4.54% |
| Endeavor Group Holdings, Inc. | EDR | 4.40% |
| Hydraulic Elements and Systems AD | HES | 3.99% |
| Juniper Networks, Inc. | JNPR | 3.68% |
| Springworks Therapeutics, Inc. | SWTX | 3.03% |
| Frontier Communications Holdings LLC | FYBR.8.75 05.15.30 144A | 2.36% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Dec 18, 2024 | $0.12488 | Dec 19, 2024 |
| Dec 14, 2023 | $0.24409 | Dec 15, 2023 |
| Dec 15, 2022 | $0.4545 | Dec 16, 2022 |
| Dec 17, 2020 | $0.88524 | Dec 18, 2020 |
| Dec 19, 2019 | $0.27464 | Dec 20, 2019 |
| Dec 13, 2018 | $0.22375 | Dec 14, 2018 |