Merger Arbitrage

2016 ◽  
Author(s):  
Thomas Kirchner
Keyword(s):  
Merger Arbitrage

Market risk exposure of merger arbitrage in Australia

2011 ◽  
Vol 53 (1) ◽  
pp. 185-215 ◽  
Author(s):  
Jason Hall ◽  
Matthew Pinnuck ◽  
Matthew Thorne
Keyword(s):  
Market Risk ◽  
Risk Exposure ◽  
Merger Arbitrage

Event-Driven Hedge Fund Strategies

2017 ◽  
Author(s):  
Caroline Farrelly ◽  
François-Serge Lhabitant
Keyword(s):  
Hedge Funds ◽  
Hedge Fund ◽  
Skill Sets ◽  
Broad Category ◽  
Event Driven ◽  
Arbitrage Trading ◽  
Merger Arbitrage ◽  
Time Frames ◽  
Legal Expertise

This chapter explores some of the strategies used by event-driven hedge funds, namely merger arbitrage, trading distressed securities, special situations, and activism. This broad category within the hedge fund space attracts about a quarter of the capital deployed to this part of the alternatives world. Investors are drawn to the idea of uncorrelated returns that can act as a source of diversification for their portfolios as well as the ability to follow the news flow related to their investments. In essence, such trades should have identifiable catalysts and time frames. The chapter offers illustrative examples of historical trades, providing some context of the types of positions funds may take and time frames involved. Various skill sets should be sought in an event-driven manager. Managers dealing in distressed securities are likely to benefit from a legal expertise, whereas activists need to be able to influence management and campaign publically.

Merger Arbitrage

2012 ◽  
Author(s):  
Lionel Melka ◽  
Amit Shabi
Keyword(s):  
Merger Arbitrage

Merger Arbitrage

2009 ◽  
Author(s):  
Thomas Kirchner
Keyword(s):  
Merger Arbitrage

Merger Arbitrage: An Introduction

2007 ◽  
pp. 118-138
Author(s):  
Greg N. Gregoriou ◽  
François-Serge Lhabitant
Keyword(s):  
Merger Arbitrage

Hedge Fund Strategies in the Post-Crisis Era

2021 ◽  
pp. 135-159
Author(s):  
Yigit Atilgan ◽  
Turan G. Bali ◽  
A. Doruk Gunaydin
Keyword(s):  
Hedge Funds ◽  
Hedge Fund ◽  
Abnormal Returns ◽  
Bond Market ◽  
Market Portfolio ◽  
Relative Value ◽  
Pricing Factors ◽  
Merger Arbitrage ◽  
Arbitrage Strategy ◽  
Risk Ratios

This chapter examines the performances of various hedge fund strategies based on various reward-to-risk ratios after the 2008 global crisis. We document that a majority of hedge fund strategies deliver lower average returns compared to equities and bonds; yet the volatilities of their returns have also been low. The equity hedge strategy has the highest reward-to-risk ratios among the major strategy categories, whereas the relative value arbitrage strategy has the lowest. Technology/healthcare, merger arbitrage, discretionary thematic, and asset-backed arbitrage strategies tend to have the highest reward-to-risk ratios in their respective categories. Time-series regressions of hedge fund strategy returns on various fund pricing factors provide evidence that hedge funds, on average, do not generate abnormal returns once the pricing factors are controlled for. We also document that hedge fund strategy returns generally load negatively on the bond market and aggregate credit risk factors and positively on the market portfolio.

Investment Strategies of Hedge Funds

2021 ◽  
pp. 112-135
Author(s):  
Hany A. Shawky
Keyword(s):  
Capital Structure ◽  
Hedge Funds ◽  
Yield Curve ◽  
Hedge Fund ◽  
Investment Strategies ◽  
Fixed Income ◽  
Relative Value ◽  
Merger Arbitrage ◽  
Arbitrage Strategy ◽  
And Performance

This chapter reviews a number of different hedge fund strategies, including equity hedge, long/short, market neutral, relative value arbitrage, convertible arbitrage strategy, capital structure arbitrage strategy, fixed income arbitrage strategy, yield curve arbitrage strategy, other relative value arbitrage strategies, emerging markets strategies, global macro strategies, event driven strategies, distressed securities, and merger arbitrage strategies. In addition, the author discusses the growth and performance of different strategies, as well as fraud, fund failures, activism, and regulation.

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