The
Recent merger deals such as
The Fund, which is one of the few funds to employ hedge fund-like strategies in the mutual fund industry, has seen an 8.03% annualized return since its inception in late 2000 through the end of last year, compared with the S&P's loss of 2.75% for the same four-year period. It has also outperformed its hedge fund competitors by more than double.
"In addition to diversifying the Ffnd into larger overseas markets such as the United Kingdom and Australia, the pickup in deals, both large and small, increases the Fund's ability to deploy significantly greater capital. With cash balances at both operating companies and private equity shops reaching record levels, we anticipate a robust merger market in 2005," said Orrico.