NEW YORK, NY– (Marketwired – March 27, 2017) – Westchester Capital Management (“WCM”), investment advisor to the $ 3.8 billion WCM Alternatives family of mutual funds, today announced the launch of an investor share class for WCM Alternatives: Event-Driven Fund (WCERX). The new share class provides an additional entry point for investment advisers looking for strategies designed to provide enhanced returns with low volatility in any market environment.
The WCM Alternatives: Event-Driven Fund uses a global multi-event strategy that seeks to generate alpha from multiple prioritized sources through risk-adjusted metrics. The Fund has the flexibility to invest opportunistically across a variety of sectors, structures and strategies.
“Our decision to introduce a new class of investor shares is a response to client demand as advisors continue to seek access to uncorrelated investment strategies that aim to provide stable returns with a limited exposure to movements in the equity and debt markets, ”said Roy Behren, co-portfolio manager and managing member of WCM.
“Westchester Capital Management is a pioneer of liquid alternative mutual funds. We have strategically broadened our range of alternative investment offerings over the past few years and have broadened our offerings both in the open-ended mutual fund area and in the sub-advisory space with large players. institutional. We are delighted to continue to provide investors with alternative investment options drawn from over 30 years of alternative investment experience, ”said Michael Shannon, Co-Portfolio Manager and Managing Member of WCM.
About Westchester Capital Management
Westchester Capital Management (WCM) is a licensed investment advisor focused on implementing innovative event-driven investment strategies targeting financial advisors and their high net worth clients. WCM manages approximately $ 3.8 billion in assets through a variety of vehicles, including mutual funds, hedge funds, and open-ended insurance products. The company, based in Westchester County, New York, specializes in alternative investment strategies and in 1989 launched the industry’s first liquid alternative mutual fund dedicated to merger arbitrage. For more information on WCM, visit www.westchestercapitalfunds.com.
Before investing in the WCM Alternatives: Event-Driven Fund, carefully consider its investment objectives, risks, fees and expenses. To obtain a prospectus or summary prospectus containing this and other information, please call 800.343.8959. Please read it carefully before investing.
Investing in mutual funds involves risks. The main loss is possible. Merger-arbitration and eventsmotivated investing involves the risk that the advisor’s assessment of the outcome of a proposed event, whether it is a merger, reorganization, regulatory issue or otherwise. event, proves to be incorrect and the return on investment of the Fund is negative. Investments in foreign companies may pose political, cultural, regulatory, legal and tax risks different from those associated with comparable transactions in the United States. The frequency of the Fund’s transactions will vary from year to year, although merger arbitrage portfolios generally have higher turnover rates than typical long-term portfolios.only funds. Increased portfolio turnover may result in higher brokerage commissions, a broker brand–increases and other transaction costs. The higher costs associated with increased portfolio turnover may outweigh the performance gains of the Fund. The Fund may enter into short selling transactions for, among other reasons, to protect itself against a decline in the market value of the shares of the acquiring company prior to the completion of the acquisition. If the price of a security sold short increases between the time of the short sale and the time the Fund hedges its short position, the Fund will suffer a loss. The amount of a potential loss on an uncovered short sale transaction is theoretically unlimited. The value of debt securities may fluctuate due to, among other things, changes in interest rates, general economic conditions, industry fundamentals, market sentiment and the financial condition of the issuer, including the credit rating. credit or financial performance of the issuer. Derivatives can create leverage which will amplify the effect of the performance of these instruments on the Fund and may result in significant losses. The Fund’s hedging strategy will be subject to the ability of the Fund’s investment advisor to properly assess the degree of correlation between the performance of the instruments used in the hedging strategy and the performance of the investments of the hedged portfolio. Securities rated below investment grade (and unrated securities of comparable credit quality), commonly referred to as “high yield” or “junk” bonds, have speculative characteristics and generally present a higher credit risk. than the best rated titles. As an undiversified fund, the Fund has a greater potential to realize losses in the event of adverse events occurring affecting an issuer in its portfolio. The Fund’s investments in small and medium-sized companies involve more risk than investments in larger companies. Small and mid-cap companies often have narrower markets. The fund has no operating history to assess and may not attract enough assets to realize or maximize the investment and operational efficiency.
The WCM Alternatives: Event-Driven Fund is distributed by Quasar Distributors, LLC.
Definition: Correlation is a statistical measure of how two titles move relative to each other.