Arbitrage: Gaining steadily


Arbitrage strategies continued to gain steadily in March, with the Absolute Return Arbitrage Index posting a return of 0.97% to bring its year-to-date performance to 3.55%. This puts the strategy on pace to soon beat its 2005 return of 4.56%. The Absolute Return index was buoyed by funds such as Stark Investments, which climbed 3.41%, and Thales Holdings, which returned 3.21%. Other funds turning in positive performance include Thane Ritchie's Ritchie Multi-Strategy Global fund, which netted 0.9%. Of course not all funds were positioned to gain: The Waterstone Market Neutral OS Fund lost 0.98% in March, but after