%0 Journal Article %A Shoaib A. Khan %T Merger Arbitrage %B A Long-Term Investment Strategy %D 2002 %R 10.3905/jwm.2002.320427 %J The Journal of Wealth Management %P 76-81 %V 4 %N 4 %X Merger arbitrage is a key event-driven investment strategy that is considered to provide consistently attractive returns. This article is the first in a series of planned articles that will examine the implication of including this strategy, and others, in the investor portfolio. The goal of the author is to allow the reader to appreciate the advantages of investing in merger arbitrage, while at the same time remaining mindful of the limitations that can hinder performance. The author begins by defining merger arbitrage and how returns are generated, and then compares the strategy to traditional investments. Then, he discusses the current market conditions and market outlooks to introduce how the strategy fits into the overall context of hedge fund investments. He concludes with a summary of the benefits of including the strategy in a diversified portfolio. %U https://jwm.pm-research.com/content/iijwealthmgmt/4/4/76.full.pdf