Inception dates: AEDFX, 10/01/10; AEDNX, 10/01/10; AGEAX, 6/1/13. Performance greater than one year is annualized. Please visit the glossary for definitions of terms.
Performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. Returns shown above include the reinvestment of all dividends and capital gains. Total Annual Fund Operating Expenses for AEDNX, AEDFX, and AGEAX are 1.50%, 1.75%, and 1.75%, respectively. The adviser has contractually agreed to waive fees to limit total annual operating expenses, excluding taxes, interest, dividends on short positions, brokerage commissions, acquired fund fees and expenses, and other costs incurred in connection with the purchase or sale of portfolio securities, for AEDNX, AEDFX, and AGEAX to 1.44%, 1.69%, and 1.69%, respectively, until September 30, 2025, unless terminated earlier by the Board of Trustees. Without such fee waivers, performance numbers would have been reduced. Class A shares have a maximum front-end sales charge of 3.25%. A deferred sales charge of up to 1.00% may be imposed on purchases of $250,000 or more of Class A shares purchased without a front-end sales charge that are redeemed within 18 months of purchase. Please read the prospectus for additional details.
RISKS: Investments are subject to risk, including possible loss of principal. There can be no assurance that the fund will achieve its investment objectives. The fund uses investment techniques and strategies with risks that are different from the risks ordinarily associated with equity and credit investments. Such risks include merger arbitrage risk (in that the proposed reorganizations in which the fund invests may be renegotiated or terminated, in which case the fund may realize losses); short sale risk; event-driven risk; special situations risk; active management risk; market risk; sector risk; hedging transaction risk; derivatives risk; credit risk; convertible security risk; concentration risk; non-diversification risk; counterparty risk; temporary investment/cash management risk; high portfolio turnover risk (which may increase the fund’s brokerage costs, which would reduce performance); interest rate risk; liquidity risk; options risk; swap risk; small and medium capitalization securities risk; investment company and ETF risk; large shareholder transaction risk; foreign securities risk; leverage risk; and currency risk. Risks may increase volatility, increase costs, and lower performance.
Please note that the fund is offered and sold only to United States residents. The fund is not offered for sale in countries other than the U.S. and its territories. This website should not be considered a solicitation to buy or an offer to sell shares of the funds in any jurisdiction where it would be unlawful under the securities laws of that jurisdiction. The Arbitrage Funds are offered only by prospectus.
