Arbitrage Event-Driven C
Name
As of 04/27/2021Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
3.4%
1 yr return
18.3%
3 Yr Avg Return
5.6%
5 Yr Avg Return
4.4%
Net Assets
$133 M
Holdings in Top 10
44.7%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 2.86%
SALES FEES
Front Load N/A
Deferred Load 1.00%
TRADING FEES
Turnover 397.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,000
IRA
$2,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/27/2021Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
AEFCX - Profile
Distributions
- YTD Total Return 3.4%
- 3 Yr Annualized Total Return 5.6%
- 5 Yr Annualized Total Return 4.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.89%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annually
Fund Details
-
Legal NameWater Island Event-Driven Fund
-
Fund Family NameArbitrage Fund
-
Inception DateJun 01, 2012
-
Shares OutstandingN/A
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerRoger Foltynowicz
Fund Description
AEFCX - Performance
Return Ranking - Trailing
Period | AEFCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.4% | -11.4% | 14.6% | 40.59% |
1 Yr | 18.3% | -33.0% | 41.7% | 14.42% |
3 Yr | 5.6%* | -10.5% | 13.4% | 27.27% |
5 Yr | 4.4%* | -4.8% | 11.1% | 30.95% |
10 Yr | 1.9%* | -4.6% | 7.6% | 68.57% |
* Annualized
Return Ranking - Calendar
Period | AEFCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 12.2% | -31.7% | 23.2% | 8.08% |
2022 | 3.7% | -20.7% | 10.7% | 21.43% |
2021 | -1.6% | -12.4% | 14.7% | 50.55% |
2020 | 2.9% | -13.2% | 12.9% | 27.50% |
2019 | 4.3% | -11.7% | 7.9% | 18.31% |
Total Return Ranking - Trailing
Period | AEFCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.4% | -11.4% | 14.6% | 40.59% |
1 Yr | 17.3% | -33.0% | 41.7% | 13.46% |
3 Yr | 5.6%* | -10.5% | 13.4% | 24.24% |
5 Yr | 4.4%* | -4.8% | 11.1% | 26.19% |
10 Yr | 1.9%* | -4.6% | 7.6% | 68.57% |
* Annualized
Total Return Ranking - Calendar
Period | AEFCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 12.2% | -31.7% | 23.2% | 8.08% |
2022 | 3.7% | -20.7% | 10.7% | 21.43% |
2021 | -1.6% | -12.4% | 14.7% | 64.84% |
2020 | 2.9% | -12.7% | 12.9% | 47.50% |
2019 | 4.3% | -11.5% | 13.2% | 26.76% |
NAV & Total Return History
AEFCX - Holdings
Concentration Analysis
AEFCX | Category Low | Category High | AEFCX % Rank | |
---|---|---|---|---|
Net Assets | 133 M | 105 K | 12.6 B | 46.67% |
Number of Holdings | 181 | 5 | 2526 | 61.90% |
Net Assets in Top 10 | 23.3 M | -619 M | 6.53 B | 45.71% |
Weighting of Top 10 | 44.72% | 7.6% | 96.1% | 48.19% |
Top 10 Holdings
- Caesars Entertainment Corp 9.27%
- LogMeIn Inc 7.38%
- Wright Medical Group NV 6.82%
- Msgss Trs Usd R V 01mlibor Us0001m -40.00 Bps /Msgsss 6.78%
- Msgss Trs Usd P E Us6174464486/ Ms Us Swap 6.78%
- Msgss Trs Usd R V 01mlibor Us0001m -40.00 Bps /Msgsss 6.78%
- Msgss Trs Usd P E Us6174464486/ Ms Us Swap 6.78%
- Msgss Trs Usd R V 01mlibor Us0001m -40.00 Bps /Msgsss 6.78%
- Msgss Trs Usd R V 01mlibor Us0001m -40.00 Bps /Msgsss 6.78%
- Msgss Trs Usd R V 01mlibor Us0001m -40.00 Bps /Msgsss 6.78%
Asset Allocation
Weighting | Return Low | Return High | AEFCX % Rank | |
---|---|---|---|---|
Stocks | 69.50% | -57.09% | 325.56% | 18.10% |
Cash | 26.29% | -225.56% | 102.75% | 75.24% |
Bonds | 2.71% | -1.04% | 63.30% | 39.05% |
Convertible Bonds | 1.49% | 0.00% | 95.47% | 33.33% |
Preferred Stocks | 0.00% | 0.00% | 5.67% | 98.10% |
Other | 0.00% | -11.90% | 43.69% | 83.81% |
Stock Sector Breakdown
Weighting | Return Low | Return High | AEFCX % Rank | |
---|---|---|---|---|
Technology | 39.69% | 0.00% | 100.00% | 13.83% |
Healthcare | 16.92% | 0.00% | 27.28% | 18.09% |
Financial Services | 14.18% | 0.00% | 98.37% | 42.55% |
Communication Services | 11.38% | 0.00% | 33.72% | 15.96% |
Industrials | 10.10% | 0.00% | 27.58% | 53.19% |
Consumer Cyclical | 3.11% | 0.00% | 29.06% | 78.72% |
Basic Materials | 1.87% | 0.00% | 42.74% | 61.70% |
Real Estate | 1.12% | 0.00% | 93.91% | 57.45% |
Energy | 0.84% | 0.00% | 53.30% | 57.45% |
Consumer Defense | 0.41% | 0.00% | 30.58% | 63.83% |
Utilities | 0.38% | 0.00% | 66.28% | 61.70% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | AEFCX % Rank | |
---|---|---|---|---|
US | 58.37% | -55.82% | 325.56% | 17.14% |
Non US | 11.13% | -7.09% | 86.98% | 16.19% |
Bond Sector Breakdown
Weighting | Return Low | Return High | AEFCX % Rank | |
---|---|---|---|---|
Cash & Equivalents | 86.21% | 0.00% | 100.00% | 53.33% |
Corporate | 13.79% | 0.00% | 100.00% | 28.57% |
Derivative | 0.00% | 0.00% | 30.95% | 96.19% |
Securitized | 0.00% | 0.00% | 27.70% | 95.24% |
Municipal | 0.00% | 0.00% | 3.82% | 95.24% |
Government | 0.00% | 0.00% | 73.33% | 96.19% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | AEFCX % Rank | |
---|---|---|---|---|
US | 1.39% | -1.04% | 80.93% | 39.05% |
Non US | 1.32% | -64.71% | 9.68% | 7.62% |
AEFCX - Expenses
Operational Fees
AEFCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.86% | 0.73% | 9.52% | 35.58% |
Management Fee | 1.10% | 0.13% | 1.65% | 54.29% |
12b-1 Fee | 1.00% | 0.00% | 1.00% | 95.00% |
Administrative Fee | N/A | 0.06% | 0.40% | 22.41% |
Sales Fees
AEFCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.75% | 5.75% | 93.55% |
Deferred Load | 1.00% | 1.00% | 5.00% | 80.00% |
Trading Fees
AEFCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
AEFCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 397.00% | 30.00% | 483.00% | 96.67% |
AEFCX - Distributions
Dividend Yield Analysis
AEFCX | Category Low | Category High | AEFCX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 0.75% | 94.29% |
Dividend Distribution Analysis
AEFCX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annually | Annually | Annually | Annually |
Net Income Ratio Analysis
AEFCX | Category Low | Category High | AEFCX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.89% | -2.49% | 4.20% | 76.92% |
Capital Gain Distribution Analysis
AEFCX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 14, 2018 | $0.054 | |
Dec 17, 2015 | $0.244 | |
Dec 10, 2014 | $0.036 | |
Dec 19, 2013 | $0.078 |
AEFCX - Fund Manager Analysis
Managers
Roger Foltynowicz
Start Date
Tenure
Tenure Rank
Oct 01, 2010
10.5
10.5%
Roger Foltynowicz, CAIA, received a Master of Science degree from Pace University in 2006 – with a major in Investment Management – and a Bachelor's degree from Presbyterian College in 1999 – with a major in Business Administration.
Todd Munn
Start Date
Tenure
Tenure Rank
Oct 01, 2010
10.5
10.5%
Munn is a portfolio manager of Water Island Capital, LLC. Prior to becoming a portfolio manager of the Fund, Mr. Munn was a senior equity analyst for the Fund. Mr. Munn received a Master of Business Administration degree from Fordham Graduate School of Business in 2003 and a Bachelors degree from Gettysburg College in 1993 — with a double major in Finance and Accounting.
Gregory Loprete
Start Date
Tenure
Tenure Rank
Oct 01, 2010
10.5
10.5%
Gregory(Gregg) Loprete joined Water Island Capital in 2009 and currently serves as a portfolio manager. He is primarily responsible for management of the firm’s convertible and fixed income investments. Prior to joining Water Island Capital, Mr. Loprete worked at Keefe, Bruyette & Woods as a Convertible and Preferred Trader where he evaluated, implemented and managed convertible and capital structure investments. From 2007-2008, Mr. Loprete was a Director in the Convertible Arbitrage Group at Ramius Capital Group, LLC. At Ramius Mr. Loprete also served as co-manager and trader. From 2003 to 2007, Mr. Loprete was a Senior Convertible Analyst and Convertible Banking Liaison at SG Cowen & Company. Mr. Loprete received a Masters of Business Administration degree in Finance from New York University in 1993 and a Bachelors degree from the University of Delaware in 1987 — with a major in English Literature with a minor in Economics.
John Orrico
Start Date
Tenure
Tenure Rank
Mar 31, 2018
3.0
3.0%
John Orrico, CFA, serves as Chief Investment Officer of t Water Island Capital, LLC. Prior to organizing Water Island in January 2000, Mr. Orrico assisted in the management of private trusts and entities employing merger arbitrage strategies. Mr. Orrico received a Bachelor's degree from Georgetown University in 1982 – with a double major in Finance and International Management. He received the Chartered Financial Analyst designation in 1988.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 30.59 | 6.35 | 9.42 |