AEDFX

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.