The Arbitrage Fund Class Institutional (ARBNX)

Net Asset Value
1 Day
Overall Morningstar Rating
Market neutral
Style or Category
No Load
Sales Expenses
Expense Ratio
Morningstar Risk Rating™
Investment Objective The investment seeks to achieve capital growth by engaging in merger arbitrage. The fund plans to invest at least 80% of its net assets in equity securities of companies (both U.S. and foreign) that are involved in publicly announced mergers, takeovers, tender offers, leveraged buyouts, spin-offs, liquidations and other corporate reorganizations. Equity securities include common and preferred stock. Merger arbitrage is a highly specialized investment approach designed to profit from the successful completion of mergers, takeovers, tender offers, leveraged buyouts, spin-offs, liquidations and other corporate reorganizations.


1 month+0.78% 3 years+1.15%
3 months+0.62% 5 years+1.94%
1 year+1.64% Since inception+3.15%
Data through --

Peer Comparisonvs. Market neutral

Performance 5-yr return+1.94%+1.26%
Expense ratio1.92%1.73%
Risk 5 year sharpe ratio0.680.20
Net assets$2.4B$658.2M
Average market cap$7.3B$30.6B
Average P/E25.317.3
Portfolio turnover462%462%

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Fund Management and Purchase Info

Fund familyArbitrage Fund
Fund manager & tenureJohn Orrico / 14 Years
Minimal initial investment$100,000.00
Minimum IRA investment$100,000.00


U.S. stock34.27%
International stock12.12%
Fixed income0.00%
Top 5 Sectors
Portfolio weighting
Hardware 13.46%
Healthcare 13.01%
Telecommunication 12.79%
Media 11.36%
Energy 8.82%
Top 10 Holdings
Portfolio weighting
-- Foster Wheeler AG5.40%
CMCSA Comcast Corp Class A4.61%
-- Micros Systems Inc4.59%
SWY Safeway Inc4.56%
-- tw telecom inc4.47%
TWC Time Warner Cable Inc4.34%
PL Protective Life Corp4.22%
AMAT Applied Materials Inc4.01%
-- American Realty Capital Healthcare Trust Inc3.85%
-- InterMune Inc3.80%

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