Water Island Event-Driven Fund Class C (AEFCX)
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Water Island Event-Driven Fund Class C
Arbitrage Funds
C/O Sei Global Funds Services 1 Freedom Valley Dri
Oaks, PA 19456
800-295-4485
Management information
Todd W. Munn,Lead manager since 30 September 2010
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.
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Morningstar category
While the investment objective stated in a fund's prospectus may or may not reflect how the fund actually invests, the Morningstar category is assigned based on the underlying securities in each portfolio. Morningstar categories help investors and investment professionals make meaningful comparisons between funds. The categories make it easier to build well-diversified portfolios, assess potential risk and identify top-performing funds. We place funds in a given category based on their portfolio statistics and compositions over the past three years. If the fund is new and has no portfolio history, we estimate where it will fall before giving it a more permanent category assignment. Where necessary, we may change a category assignment based on recent changes to the portfolio.
Fund overview
CategoryMarket Neutral
Fund familyArbitrage Fund
Net assets124.5M
YTD return3.39%
Yield0.00%
Morningstar rating★★★★
Inception date31 May 2012
Fund operations
Last dividend0.05
Last cap gain0.00
Holdings turnover397.00%
Average for categoryN/A
Fees and expenses
ExpenseAEFCXCategory average
Annual report expense ratio (net)2.59%2.03%
Prospectus net expense ratio2.59%N/A
Prospectus gross expense ratio2.81%N/A
Max 12b1 fee1.00%N/A
Max front end sales loadN/A4.75%
Max deferred sales load1.00%1.27%
3-yr expense projection850N/A
5-yr expense projection1,465N/A
10-yr expense projection3,122N/A
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