Visium Asset Management announced the launch of the Visium Event Driven Fund (VIDVX). This is the first mutual fund offering for the alternative asset management firm, which was founded in 2005.

The investment objective of this latest fund is to achieve capital growth while preserving a low correlation to the U.S. equity markets. A mix of two complementary strategies—Special Situations and Merger Arbitrage—target the securities of North American companies, which its portfolio managers feel will be impacted by upcoming corporate events.

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