Atticus takes advantage of merger arb boom


On the whole, a pick-up in volume has been a boon to merger-focused arbitrageurs in 2005. But few fared as well in March as Timothy Barakett's Atticus, which picked up a rock-solid 5% for the month in Class-A shares of its $1 billion Atticus Global Ltd. fund. The monthly gain was one of the best on record for the fund, which has managed average annualized returns of roughly 19.5% since inception six years ago. The March gain lifted the merger-arb strategy to a 7.0% return on the year. And another 2% was added on top of that during