Bancorp extending offer period for merger arbitrage fund

Bancorp is extending the closing date for its merger arbitrage fund until May 14.

The fund is a new, innovative vehicle that offers investors a chance to profit from growing corporate takeover and merger activity in New Zealand and Australia.

Bancorp managing director Craig Brownie says extending the offer will allow for the involvement of a greater spread of investors and also will provide the market "more time to digest why Bancorp's merger arbitrage fund is so well placed to profit from takeover activity and deliver significantly higher returns than other managed equity funds."

"The merger arbitrage fund is based on a proven, successful investment strategy which has seen much higher returns relative to lower volatility for investors compared with traditional equity funds. It is ideal for retail investors who are looking for a very actively managed fund that has fees that are comparable with similar hedge funds, and yet also provides absolute returns from the growing mergers and takeovers market."