Arbitrage: Inching up


March was a decent month for arbitrage funds, with the Absolute Return Arbitrage Index gaining 0.51% for a YTD total of 2.13%. Top performers include Thor Asset Management's Optima Fund and Thales Fund Management's Thales Holdings, which pulled in 3.06% and 2.76%, respectively. Deerfield Synthetic Options fund was flat for the month (+0.03%) for a 0.38 loss for the year. Obsidian Offshore fund gave up an estimated 1% in March to total -1.25% for the year, a disappointing end to the first quarter. Glazer Capital Management also suffered, with Glazer Offshore Fund down 1.99%, leaving the fund's quarterly