Merger arbitrage is perhaps the best-known arbitrage among investors and hedge fund managers. Merger Arbitrage has outperformed during the largest U.S. equity market drawdowns. Main Menu; by School; by Literature Title; by Subject; Textbook Solutions Expert Tutors Earn. Year-to-date (through June 30, 2020), the Fund is up 3.35% and has now recovered from the -1.88% HFRI ED Merger Arbitrage Index tracks the investment process primarily focused on opportunities in the equity and equity related instruments of companies which are currently engaged in a corporate transaction. Second Quarter Commentary 2022. The HFRI merger arbitrage index compiled by the Hedge Fund Research data shop in Chicago was down almost 4% in the first three quarters of this year, with much of that decline SG Prime Services Indices. The BTOP50 Index seeks to replicate the overall composition of the managed futures industry with regard to trading style and overall market exposure. Monthly-reporting HFRX Index constituents are comprised of private hedge funds. Before you invest, you may want to review the Funds full prospectus, which contains more information about the Fund and its risks. Methodology: - Geography: Other: Global On a month-by-month basis the Fund returned 0.85%, 0.50%, and 0.49% in the months of January, February, and March, respectively. The December, January and year-to-date 2017 performance numbers are listed below and are available at www.hedgeindex.com. The HFRI ED: Merger Arbitrage Index focuses on opportunities in equity and equity related instruments of companies which are currently engaged in a corporate transaction. Managers Discussion Additionally, the Fund has added the Barclay Merger Arbitrage Index as an additional Investment theses are focused on characteristics of the firm's financial April. Fundamental Growth strategies employ analytical techniques in which the investment thesis is predicated on assessment of the valuation characteristics on the underlying companies which are expected to have prospects for earnings growth and capital appreciation exceeding those of the broader equity market. The HFRI Women Index is a global, equal-weighted index of single-manager funds that report to HFR Database which are women-owned and/or managed. The HFRI Equity Hedge (Total) Index - JPY Conversion is created by taking the monthly performance of the standard USD-denominated version of the Index and compounding it with monthly spot rate return of the JPY currency. HFRI Event Driven Directional Index Registered Users Investment Objective. (formerly Newedge) 1.14. Actions. This comprises 8 dedicated merger Year-to-date (through June 30, 2020), the Fund is up 3.35% and has now recovered from the -1.88% drawdown incurred in March. Security types can range from most senior in the HFRX ED: Merger Arbitrage Index + Add to watchlist. HFRXMA:CBT. 0.43. June-0.28-1.57: May-0.7-1.05: April-0.12-0.54: March: 0.3: 0.85: February: 0.23: 0.51: January-0.46-0.05: 2021. 0.73. Alternatives are represented by an equally weighted combination of the HFRI Macro Index, the HFRI Equity Market Neutral Index, the HFRI Merger Arbitrage Index, the Morningstar real estate fund category average, the Morningstar Exploited by trading skewness and kurtosis risk for apparent reduction in Performance for the Broad Index and its 10 sub-strategies is calculated monthly. February. Patton Wealth Management, Inc. is Registered Investment Advisor offers excellent service on Financial Planning,401K Advice,Retirement Planning,Wealth Management & more. The investable HFRI 500 ED: Merger Arbitrage Index and the HFRI ED: Distressed Index both jumped +6.7 percent in November. This differentiated approach is based on a passive strategy of owning certain announced takeover targets, with the goal of generating returns that are representative of global merger arbitrage activity. The Index also includes short exposure to global equities as a partial equity market hedge. The SG Prime Services family of indices represents a range of benchmarks that provide updated month-to-date net returns on a T+1 basis. HFRXMA:CBT. The performance of merger arbitrage can be measured via various indices, some of which provide daily and others only monthly return data. Source: AllianceBernstein (AB) and Hedge Fund Research, Inc. (HFRI) Merger Arbitrage Index (gross returns in excess of cash). Constituent funds report monthly net HFRI Merger Arbitrage Index returned 5.38%, and the S&P 500 returned 20.54%. 9987363087 1003162115 EDHEC Fixed Income Arbitrage 9988868645 1000907229 EDHEC from FINANCE 4634 at Harvard University. Year to date the Funds standard deviation is 0.7% and its Sharpe ratio is 2.50. by the Russell 1000 Index, which tracks the performance of 1,000 publicly traded large-cap companies in the United States. The CISDM Fund of Fund index and the eight individual CISDM Hedge Fund Strategy Indices reflect the median performance of funds within self-reported fund of fund and hedge fund strategy classifications reporting to the Morningstar CISDM Hedge Fund Database. Asset Class: Alternative Merger Arbitrage Inception Date: September 1, 2022 Risk Rating: Low Valuation Frequency: Daily Distributions: DRIP annually, cash optional Benchmark: HFRI ED: Merger Arbitrage Index (Hedged to CAD) Performance Fee: 15% of the amount by which the total return of the class of units exceeds its high-water mark for the period since the performance fee was last Merger Arbitrage strategies which employ an investment process primarily focused on opportunities in equity and Systematic: Diversified strategies have investment processes typically as function of mathematical, algorithmic and technical models, with little or no influence of individuals over the portfolio positioning. IQ Merger Arbitrage ETF. The HFRI Indices are broadly constructed indices designed to capture the breadth of hedge fund performance trends across all strategies and regions. Study Resources. IQ Merger Arbitrage ETF: IQ Merger Arbitrage ETF. HFR Index Factsheet HFRI-I Liquid Alternative UCITS ED: Merger Arbitrage Index 2018-01 to 2022-07 Index Publisher: Hedge Fund Research, Inc. HFRI-I Liquid Alternative UCITS ED: Merger Arbitrage Index Description. HFR is a well-known firm that has created an investable hedge fund benchmark, the HFRI 500, which tracks hundreds of hedge funds. The inception date of the Class F Units of the Picton Mahoney Fortified Arbritrage Alternative Fund is January 3, 2019. Merger arbitrage generally entails buying the stock of the firm that is to be acquired and selling the stock of the firm that is the acquirer. HFRI-I Liquid Alternative UCITS ED: Merger Arbitrage Index Merger Arbitrage strategies which employ an investment process primarily focused on opportunities in equity and equity related What a difference a few months can make. Actions. HFRX ED: Merger Arbitrage Index. Performance data is presented since inception NEXPOINT ADVISORS, L.P. | (833) 697-7253. For the twelve-month period ended June 30, 2022, the NexPoint Merger Arbitrage Fund (the Fund) Class Z returned 2.74% compared to the Bloomberg US Aggregate Bond Index return of -10.29%, the S&P Merger Arbitrage Index return of -1.40%, the HFRI Merger Arbitrage Index return of0.47%,and the S&P500Index return of-10.64%. Add to watchlist; Add an alert; Price (USD) Today's Change The HFRI Indices are broadly constructed indices designed to capture the breadth of hedge fund performance trends across all strategies and regions. Registered Users can view detailed information on each index, including the full performance history and charting features. In addition, the CISDM Equal Weighted Hedge Fund Index and CISDM CTA Equal Weighted Index reflect average HFRI ED Merger Arbitrage Index tracks the investment process primarily focused on opportunities in the equity and equity related instruments of companies which are currently engaged in a Main Menu; Earn Free Access; Upload Documents; Refer Your Friends; 0.05. MNA. The Fund seeks investment results that correspond (before fees and expenses) generally to the price and yield performance of its underlying index, the IQ Merger Arbitrage Index (the "Underlying Index"). Access Index. S&P 500 HFRI Merger Arbitrage Index 0%-20%-40% 10%-10%-30%-50%-60% Tech Bubble Burst Sep Merger Arbitrage strategies which employ an investment process primarily focused on opportunities in Effective December 31, 2021, all references to the HFRI ED: Merger Arbitrage Index are hereby deleted. Name changes for the Picton Mahoney Arbitrage Fund (formerly, Vertex Arbitrage Fund) and Picton Mahoney Arbitrage Plus Fund (formerly, Vertex Arbitrage Plus Fund) are effective on January 13, 2020. This is one point of view on the financial crisis; too much reliance on a quadratic, Gaussian perspective on risk. HFRI ED MERGER ARBITRAGE INDEX (HEDGED TO CAD) 2022. the HFRI Merger Arbitrage Index and the S&P 500 which returned 4.64% and 6.17%, respectively. Strategies which employ an investment process designed to identify opportunities in markets exhibiting trending or momentum characteristics across individual instruments or asset The HFRI Merger Arbitrage Index has exhibited a Sharpe Ratio of 0.7, while sustaining a worst drawdown of -8.1%. The S&P Merger Arbitrage Index seeks to provide a risk arbitrage strategy that exploits commonly observed price changes associated with a global selection of publicly announced HFRI Merger Arbitrage Index returned 5.38%, and the S&P 500 returned 20.54%. This summary prospectus is designed to provide investors with key fund information in a clear and concise format. March. The HFRI 500 Indices are global, equal-weighted indices comprised HFRX ED: Merger Arbitrage Index. Call Us! 1.28. HFRX ED: Merger Arbitrage Index + Add to watchlist. 0.29. Merger arbitrage strategies typically have over 75% of positions in announced transactions over a given market cycle. The NexPoint Merger Arbitrage Fund (the Fund) (Class Z shares) returned 0.26% in the second quarter of Add to watchlist; Add an alert; Price (USD) Today's Change Event-Driven: Multi-Strategy Managers maintain positions in companies currently or prospectively involved in corporate transactions of a wide variety including but not limited to mergers, restructurings, financial distress, tender offers, shareholder buybacks, debt exchanges, security issuance or other capital structure adjustments. December-0.03 and Picton Mahoney Arbitrage Plus Fund (formerly, Vertex Arbitrage Plus Fund) are effective on January 13, 2020. The Credit Suisse Hedge Fund Index (the "Broad Index") finished up 0.70% for the month of January.