A strength of the steward is the longest-tenured portfolio managers’ average asset-weighted tenure of 21 years at the firm, bringing a wealth of experience to the table. Arbitrage Fund's risk-adjusted performance compares similarly to competitors. Across its open-end and exchange-traded funds, the firm’s average five-year Morningstar Rating is 3.5 stars, which is about standard. Arbitrage Fund has faced above-average manager turnover in the past five years. This is a concern, as long-term stability tends to support positive results.
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Learn how different strategies can enhance diversification.