Merger Arbitrage - An investment strategy in which the shares of a target company in a merger or acquisition are purchased, hoping to capture the spread between the agreed-upon acquisition price and the price at which the company is trading in the open market

Liquidity - The frequency and ease with which a security can be bought or sold

Discount - An amount below net asset value

Premium - An amount above net asset value

Tax Efficiency - The ability to minimize tax liabilities

Transparency - The ability of an investor to access information about the portfolio, such as daily holdings disclosure

Before investing, carefully consider the fund’s investment objectives, risks, and charges and expenses. The fund’s prospectus contains this and other important information. Click here to obtain a copy of the current prospectus. Read the prospectus carefully before you invest. 

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