Here’s an interesting little fund that showed up on my 52 week high mutual fund scan, Arbitrage R! It did have a rough patch a few weeks ago as the subprime mess started to unravel (and continues to unravel).
What does Arby R do? Emphasis mine.
> The investment (fund) seeks to achieve capital growth by engaging in merger arbitrage. The fund normally invest at least 80% of net assets in equity securities of companies (both domestic 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. The fund may engage in active and frequent trading of portfolio securities to achieve its principal investment strategies. [via Google Finance]
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