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The Arbitrage Fund - Announcements
May 7, 2010: Kiplinger's 25 Favorite Mutual Funds
The Arbitrage Fund was selected as one of Kiplinger's 25 favorite mutual funds in the May 2010 issue. Visit our Press page for a reprint.
February 17, 2010: Barron's Feature
The Arbitrage Fund was recently featured in an article in Barron's. A reprint is available on our Press page.
February 16, 2010: Did You Know...?
There are no tax consequences or Fund fees for shareholders exchanging to the lower cost Arbitrage Fund I Class (ARBNX) from the R Class (ARBFX). Additionally, the Fund prospectus waives I Class minimums for shareholders in fee-based or "wrap" accounts. To learn more please call (800) 560-8210 or see the prospectus.
December 17, 2009: The Arbitrage Fund 2009 Distribution Finalized Figures
On December 17, 2009, The Arbitrage Fund paid a distribution to shareholders of record as of December 16, 2009. The breakdown of the distribution is as follows:
|
ARBFX |
ARBNX |
| Income: |
|
$0.0531 |
$0.0735 |
| Short-Term Capital Gains: |
|
$0.2641 |
$0.2641 |
| Long-Term Capital Gains: |
|
$0.0000 |
$0.0000 |
| Total: |
|
$0.3172 |
$0.3376 |
November 24, 2009: The Arbitrage Fund 2009 Distribution Estimates
The Arbitrage Fund will pay a distribution to shareholders as of record date December 16, 2009. The ex-dividend date and reinvestment date are December 17, and the payable date is December 18. As of November 24, the estimated distribution is $0.30 short-term capital gains and $0.06 ordinary income. These figures are subject to change.
CORRECTION: An earlier version of this post incorrectly gave the record date as December 17 and the ex-dividend date as December 16.
October 1, 2009: The Arbitrage Fund Lowers Expense Ratio Effective October 1, 2009
As part of our continuing efforts to lower expenses, The Arbitrage Fund is pleased to highlight lower expense ratio caps reflected in its new prospectus dated 10/1/09. Due to continued growth in assets under management, the Fund has reached advisory and administrative fee breakpoints which continue to benefit both our shareholders and financial partners. The Institutional Share Class (ARBNX) and Retail Share Class (ARBFX) expense ratio caps have been lowered by 19 basis points each. The new ARBNX expense ratio is capped at 1.44%* while the new ARBFX expense ratio is capped at 1.69%*.
To provide our financial partners and shareholders with as much visibility as possible, Water Island Capital, LLC, advisor to The Arbitrage Fund, has also agreed to extend its Expense Waiver and Reimbursement Agreement with the Fund for an additional three years until at least August 31, 2015.
The Arbitrage Fund AUM is currently $442 million. The Fund's next management fee breakpoint will be reached at the AUM level of $500 million, where, at which point, the Fund will pay a reduced advisory fee of 1.00% on its average daily net assets in excess of $500 million. The Fund will also experience an administrative fee breakpoint at $500 million which will help to accelerate the reduction of expenses. Please read our Prospectus and SAI for more details.
* Net expenses, excluding effect of dividends on short positions.
April 2, 2009: Lipper Award Winner
Lipper declared The Arbitrage Fund (ARBNX) the Best Equity Market Neutral Fund over the five year period ending 12/31/08 in the 2009 Lipper Fund Awards. ARBNX was ranked 1 out of 23 funds within the Lipper Equity Market Neutral Funds category.
December 4, 2008: The Arbitrage Fund 2008 Distribution
The Arbitrage Fund will distribute a short-term capital gain to shareholders on record date December 9, 2008. The ex-dividend date is December 10, 2008 and the payable date is December 11, 2008.
Update: The amount of the distribution is $0.5231 per share.
December 5, 2007: The Arbitrage Fund 2007 Distribution
The Arbitrage Fund will pay a distribution to shareholders on record date December 7, 2007. The ex-dividend date and reinvest date are December 10, 2007. The payable date is December 11, 2007.
December 7, 2006: The Arbitrage Fund 2006 Distribution
The Arbitrage Fund will pay a distribution to shareholders on record date December 27, 2006. The ex-dividend date and reinvest date are December 28, 2006. The payable date is December 29, 2006. Based on shares outstanding as of October 31, 2006, the estimated total distribution per share is $0.5275, comprised of $0.0295 in long term gains and $0.4980 in short term gains. The exact per share amount will be calculated based on the number of shareholders as of the close of business on December 27, 2006.
December 14, 2005: 2005 Distribution Information
The Arbitrage Fund announces that there will be no capital gain distributions for calendar year 2005.
December 30, 2004: The Arbitrage Fund 2004 Distribution
The Arbitrage Fund will pay a distribution to shareholders on record date December 30, 2004. The payable date and ex-dividend date are December 31, 2004. As per our annual report, there are short term gains of $10,774,744 and long term gains of $1,146,280 that will be distributed to shareholders. The exact per share amount will be calculated based on the number of shareholders as of the close of business December 30, 2004.
October 1, 2003: The Arbitrage Fund Introduces Institutional Share Class
On October 1, 2003, the Fund introduced institutional Class I shares, ARBNX. The Class I shares have an expense ratio of 1.70% and no 12b-1 fees. For more information on purchasing or exchanging Class I shares please contact your broker, or click here to download the procedures for an interclass transfer and an exchange request letter.
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