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<!-- Generated by DFIN XBRL Schema Document - http://www.dfinsolutions.com/ - on 29-07-2026 12:15:45 AM -->
<!-- Copyright(c) 2026 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
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				<link:label xlink:type="resource" xlink:label="label_C000145027Member" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Class Y Shares</link:label>
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				<link:label xlink:type="resource" xlink:label="label_C000145027Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">C000145027 [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000145027Member" xlink:to="label_C000145027Member_2"/>
				<link:loc xlink:type="locator" xlink:href="#baif_EquitySecuritiesRiskMember" xlink:label="EquitySecuritiesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_EquitySecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity Securities Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquitySecuritiesRiskMember" xlink:to="label_EquitySecuritiesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_DerivativesRisksMember" xlink:label="DerivativesRisksMember"/>
				<link:label xlink:type="resource" xlink:label="label_DerivativesRisksMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivatives Risks [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativesRisksMember" xlink:to="label_DerivativesRisksMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_DebtSecuritiesRiskMember" xlink:label="DebtSecuritiesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_DebtSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Securities Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtSecuritiesRiskMember" xlink:to="label_DebtSecuritiesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_CounterpartyCreditRiskMember" xlink:label="CounterpartyCreditRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_CounterpartyCreditRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Counterparty Credit Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CounterpartyCreditRiskMember" xlink:to="label_CounterpartyCreditRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_LiquidityRiskMember" xlink:label="LiquidityRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_LiquidityRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Liquidity Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiquidityRiskMember" xlink:to="label_LiquidityRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_InflationRiskMember" xlink:label="InflationRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_InflationRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Inflation Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InflationRiskMember" xlink:to="label_InflationRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_ShortSalesRiskMember" xlink:label="ShortSalesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_ShortSalesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Short Sales Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShortSalesRiskMember" xlink:to="label_ShortSalesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_RisksSpecificToInvestmentsInInvestmentFundsMember" xlink:label="RisksSpecificToInvestmentsInInvestmentFundsMember"/>
				<link:label xlink:type="resource" xlink:label="label_RisksSpecificToInvestmentsInInvestmentFundsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Risks Specific to Investments in Investment Funds [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RisksSpecificToInvestmentsInInvestmentFundsMember" xlink:to="label_RisksSpecificToInvestmentsInInvestmentFundsMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_CaliforniaCarbonAllowanceCCAFuturesRiskMember" xlink:label="CaliforniaCarbonAllowanceCCAFuturesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_CaliforniaCarbonAllowanceCCAFuturesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">California Carbon Allowance CCA Futures Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CaliforniaCarbonAllowanceCCAFuturesRiskMember" xlink:to="label_CaliforniaCarbonAllowanceCCAFuturesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_MortgageAndAssetBackedSecuritiesRiskMember" xlink:label="MortgageAndAssetBackedSecuritiesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_MortgageAndAssetBackedSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Mortgage and Asset Backed Securities Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageAndAssetBackedSecuritiesRiskMember" xlink:to="label_MortgageAndAssetBackedSecuritiesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_CommoditiesRelatedInvestmentsRiskMember" xlink:label="CommoditiesRelatedInvestmentsRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_CommoditiesRelatedInvestmentsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commodities Related Investments Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommoditiesRelatedInvestmentsRiskMember" xlink:to="label_CommoditiesRelatedInvestmentsRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_StructuredProductsRiskMember" xlink:label="StructuredProductsRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_StructuredProductsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Structured Products Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StructuredProductsRiskMember" xlink:to="label_StructuredProductsRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_RealEstateAndREITInvestmentRiskMember" xlink:label="RealEstateAndREITInvestmentRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_RealEstateAndREITInvestmentRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Real Estate and REIT Investment Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAndREITInvestmentRiskMember" xlink:to="label_RealEstateAndREITInvestmentRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_ForeignInvestmentsAndEmergingMarketsRiskMember" xlink:label="ForeignInvestmentsAndEmergingMarketsRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_ForeignInvestmentsAndEmergingMarketsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Foreign Investments and Emerging Markets Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForeignInvestmentsAndEmergingMarketsRiskMember" xlink:to="label_ForeignInvestmentsAndEmergingMarketsRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_EventDrivenTradingRiskMember" xlink:label="EventDrivenTradingRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_EventDrivenTradingRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Event Driven Trading Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EventDrivenTradingRiskMember" xlink:to="label_EventDrivenTradingRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_SovereignDebtRiskMember" xlink:label="SovereignDebtRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_SovereignDebtRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Sovereign Debt Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SovereignDebtRiskMember" xlink:to="label_SovereignDebtRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_CollateralizedDebtObligationsRiskMember" xlink:label="CollateralizedDebtObligationsRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_CollateralizedDebtObligationsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Collateralized Debt Obligations Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CollateralizedDebtObligationsRiskMember" xlink:to="label_CollateralizedDebtObligationsRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_LeverageRiskMember" xlink:label="LeverageRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_LeverageRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Leverage Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeverageRiskMember" xlink:to="label_LeverageRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_BelowInvestmentGradeInstrumentsRiskMember" xlink:label="BelowInvestmentGradeInstrumentsRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_BelowInvestmentGradeInstrumentsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Below Investment Grade Instruments Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BelowInvestmentGradeInstrumentsRiskMember" xlink:to="label_BelowInvestmentGradeInstrumentsRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_InvestmentCompanyAndETFRiskMember" xlink:label="InvestmentCompanyAndETFRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_InvestmentCompanyAndETFRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Investment Company and ETF Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentCompanyAndETFRiskMember" xlink:to="label_InvestmentCompanyAndETFRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_TBARiskMember" xlink:label="TBARiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_TBARiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">TBA Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TBARiskMember" xlink:to="label_TBARiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_NewIssueRiskMember" xlink:label="NewIssueRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_NewIssueRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">New Issue Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewIssueRiskMember" xlink:to="label_NewIssueRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_LoanRiskMember" xlink:label="LoanRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_LoanRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loan Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanRiskMember" xlink:to="label_LoanRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_SpecialPurposeAcquisitionCompanySPACRiskMember" xlink:label="SpecialPurposeAcquisitionCompanySPACRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_SpecialPurposeAcquisitionCompanySPACRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Special Purpose Acquisition Company SPAC Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpecialPurposeAcquisitionCompanySPACRiskMember" xlink:to="label_SpecialPurposeAcquisitionCompanySPACRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_WarrantsAndRightsRiskMember" xlink:label="WarrantsAndRightsRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_WarrantsAndRightsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Warrants and Rights Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WarrantsAndRightsRiskMember" xlink:to="label_WarrantsAndRightsRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_RelativeValueStrategiesRiskMember" xlink:label="RelativeValueStrategiesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_RelativeValueStrategiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Relative Value Strategies Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelativeValueStrategiesRiskMember" xlink:to="label_RelativeValueStrategiesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_MarketCapitalizationRiskMember" xlink:label="MarketCapitalizationRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_MarketCapitalizationRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Market Capitalization Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketCapitalizationRiskMember" xlink:to="label_MarketCapitalizationRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_ArbitrageStrategiesRiskMember" xlink:label="ArbitrageStrategiesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_ArbitrageStrategiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Arbitrage Strategies Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ArbitrageStrategiesRiskMember" xlink:to="label_ArbitrageStrategiesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_DistressedSecuritiesRiskMember" xlink:label="DistressedSecuritiesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_DistressedSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Distressed Securities Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistressedSecuritiesRiskMember" xlink:to="label_DistressedSecuritiesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_BankruptcyProcessAndTradeClaimsRiskMember" xlink:label="BankruptcyProcessAndTradeClaimsRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_BankruptcyProcessAndTradeClaimsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Bankruptcy Process and Trade Claims Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankruptcyProcessAndTradeClaimsRiskMember" xlink:to="label_BankruptcyProcessAndTradeClaimsRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_MacroStrategyRiskMember" xlink:label="MacroStrategyRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_MacroStrategyRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Macro Strategy Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MacroStrategyRiskMember" xlink:to="label_MacroStrategyRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_FocusedInvestmentRiskMember" xlink:label="FocusedInvestmentRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_FocusedInvestmentRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Focused Investment Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FocusedInvestmentRiskMember" xlink:to="label_FocusedInvestmentRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_ConvertibleSecuritiesRiskMember" xlink:label="ConvertibleSecuritiesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_ConvertibleSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Convertible Securities Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertibleSecuritiesRiskMember" xlink:to="label_ConvertibleSecuritiesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_NonExchangeTradedSecuritiesRiskMember" xlink:label="NonExchangeTradedSecuritiesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_NonExchangeTradedSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Non Exchange Traded Securities Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonExchangeTradedSecuritiesRiskMember" xlink:to="label_NonExchangeTradedSecuritiesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_GovernmentIssuedSecuritiesRiskMember" xlink:label="GovernmentIssuedSecuritiesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_GovernmentIssuedSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Government Issued Securities Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GovernmentIssuedSecuritiesRiskMember" xlink:to="label_GovernmentIssuedSecuritiesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_RepurchaseAgreementsRiskMember" xlink:label="RepurchaseAgreementsRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_RepurchaseAgreementsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Repurchase Agreements Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepurchaseAgreementsRiskMember" xlink:to="label_RepurchaseAgreementsRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_EventLinkedInstrumentRiskMember" xlink:label="EventLinkedInstrumentRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_EventLinkedInstrumentRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Event Linked Instrument Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EventLinkedInstrumentRiskMember" xlink:to="label_EventLinkedInstrumentRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_ActivistStrategiesRiskMember" xlink:label="ActivistStrategiesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_ActivistStrategiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Activist Strategies Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActivistStrategiesRiskMember" xlink:to="label_ActivistStrategiesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_AllocationRiskMember" xlink:label="AllocationRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_AllocationRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Allocation Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllocationRiskMember" xlink:to="label_AllocationRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_MultiManagerRiskMember" xlink:label="MultiManagerRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_MultiManagerRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Multi Manager Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MultiManagerRiskMember" xlink:to="label_MultiManagerRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_LargePurchaseOrRedemptionRiskMember" xlink:label="LargePurchaseOrRedemptionRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_LargePurchaseOrRedemptionRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Large Purchase or Redemption Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LargePurchaseOrRedemptionRiskMember" xlink:to="label_LargePurchaseOrRedemptionRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_ConflictsOfInterestRiskMember" xlink:label="ConflictsOfInterestRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_ConflictsOfInterestRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Conflicts of Interest Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConflictsOfInterestRiskMember" xlink:to="label_ConflictsOfInterestRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_LimitationsOnTransactionsWithAffiliatesMember" xlink:label="LimitationsOnTransactionsWithAffiliatesMember"/>
				<link:label xlink:type="resource" xlink:label="label_LimitationsOnTransactionsWithAffiliatesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Limitations on Transactions with Affiliates [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LimitationsOnTransactionsWithAffiliatesMember" xlink:to="label_LimitationsOnTransactionsWithAffiliatesMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_CybersecurityRiskMember" xlink:label="CybersecurityRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_CybersecurityRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cybersecurity Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CybersecurityRiskMember" xlink:to="label_CybersecurityRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_AITechnologiesDevelopmentsRiskMember" xlink:label="AITechnologiesDevelopmentsRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_AITechnologiesDevelopmentsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">AI Technologies Developments Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AITechnologiesDevelopmentsRiskMember" xlink:to="label_AITechnologiesDevelopmentsRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_ValuationRiskMember" xlink:label="ValuationRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_ValuationRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Valuation Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ValuationRiskMember" xlink:to="label_ValuationRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_TaxRiskMember" xlink:label="TaxRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_TaxRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tax Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxRiskMember" xlink:to="label_TaxRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_ModelAndTechnologyRiskMember" xlink:label="ModelAndTechnologyRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_ModelAndTechnologyRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Model and Technology Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ModelAndTechnologyRiskMember" xlink:to="label_ModelAndTechnologyRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_RegulatoryRiskMember" xlink:label="RegulatoryRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_RegulatoryRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Regulatory Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RegulatoryRiskMember" xlink:to="label_RegulatoryRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_LongShortStrategiesRiskMember" xlink:label="LongShortStrategiesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_LongShortStrategiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long Short Strategies Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongShortStrategiesRiskMember" xlink:to="label_LongShortStrategiesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_HedgingTransactionsRiskMember" xlink:label="HedgingTransactionsRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_HedgingTransactionsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Hedging Transactions Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HedgingTransactionsRiskMember" xlink:to="label_HedgingTransactionsRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_HighPortfolioTurnoverRiskMember" xlink:label="HighPortfolioTurnoverRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_HighPortfolioTurnoverRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">High Portfolio Turnover Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HighPortfolioTurnoverRiskMember" xlink:to="label_HighPortfolioTurnoverRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_LimitedCapacityRiskMember" xlink:label="LimitedCapacityRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_LimitedCapacityRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Limited Capacity Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LimitedCapacityRiskMember" xlink:to="label_LimitedCapacityRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_RiskControlFrameworkRiskMember" xlink:label="RiskControlFrameworkRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_RiskControlFrameworkRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Risk Control Framework Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RiskControlFrameworkRiskMember" xlink:to="label_RiskControlFrameworkRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_SubsidiaryRiskMember" xlink:label="SubsidiaryRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_SubsidiaryRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Subsidiary Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsidiaryRiskMember" xlink:to="label_SubsidiaryRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_BorrowingRiskMember" xlink:label="BorrowingRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_BorrowingRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Borrowing Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingRiskMember" xlink:to="label_BorrowingRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_InvestmentStyleRiskMember" xlink:label="InvestmentStyleRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_InvestmentStyleRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Investment Style Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentStyleRiskMember" xlink:to="label_InvestmentStyleRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_DefensiveInvestingRiskMember" xlink:label="DefensiveInvestingRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_DefensiveInvestingRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defensive Investing Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DefensiveInvestingRiskMember" xlink:to="label_DefensiveInvestingRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_SystematicTradingRiskMember" xlink:label="SystematicTradingRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_SystematicTradingRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Systematic Trading Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SystematicTradingRiskMember" xlink:to="label_SystematicTradingRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_SecuritiesLendingRiskMember" xlink:label="SecuritiesLendingRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_SecuritiesLendingRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Securities Lending Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SecuritiesLendingRiskMember" xlink:to="label_SecuritiesLendingRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#baif_MarketRiskAndSelectionRiskMember" xlink:label="MarketRiskAndSelectionRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_MarketRiskAndSelectionRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Market Risk and Selection Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketRiskAndSelectionRiskMember" xlink:to="label_MarketRiskAndSelectionRiskMember"/>
            </link:labelLink>
         </link:linkbase>
      </xs:appinfo>
  </xs:annotation>
	<xs:element name="S000045538Member" id="baif_S000045538Member" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="HFRXGlobalHedgeFundIndexMember" id="baif_HFRXGlobalHedgeFundIndexMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="MSCIWorldIndexTRMember" id="baif_MSCIWorldIndexTRMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="BloombergGlobalAggregateBondIndexMember" id="baif_BloombergGlobalAggregateBondIndexMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="C000141764Member" id="baif_C000141764Member" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="C000145025Member" id="baif_C000145025Member" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="C000145026Member" id="baif_C000145026Member" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="C000145027Member" id="baif_C000145027Member" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="EquitySecuritiesRiskMember" id="baif_EquitySecuritiesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="DerivativesRisksMember" id="baif_DerivativesRisksMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="DebtSecuritiesRiskMember" id="baif_DebtSecuritiesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="CounterpartyCreditRiskMember" id="baif_CounterpartyCreditRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="LiquidityRiskMember" id="baif_LiquidityRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="InflationRiskMember" id="baif_InflationRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="ShortSalesRiskMember" id="baif_ShortSalesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="RisksSpecificToInvestmentsInInvestmentFundsMember" id="baif_RisksSpecificToInvestmentsInInvestmentFundsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="CaliforniaCarbonAllowanceCCAFuturesRiskMember" id="baif_CaliforniaCarbonAllowanceCCAFuturesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="MortgageAndAssetBackedSecuritiesRiskMember" id="baif_MortgageAndAssetBackedSecuritiesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="CommoditiesRelatedInvestmentsRiskMember" id="baif_CommoditiesRelatedInvestmentsRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="StructuredProductsRiskMember" id="baif_StructuredProductsRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="RealEstateAndREITInvestmentRiskMember" id="baif_RealEstateAndREITInvestmentRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="ForeignInvestmentsAndEmergingMarketsRiskMember" id="baif_ForeignInvestmentsAndEmergingMarketsRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="EventDrivenTradingRiskMember" id="baif_EventDrivenTradingRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="SovereignDebtRiskMember" id="baif_SovereignDebtRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="CollateralizedDebtObligationsRiskMember" id="baif_CollateralizedDebtObligationsRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="LeverageRiskMember" id="baif_LeverageRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="BelowInvestmentGradeInstrumentsRiskMember" id="baif_BelowInvestmentGradeInstrumentsRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="InvestmentCompanyAndETFRiskMember" id="baif_InvestmentCompanyAndETFRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="TBARiskMember" id="baif_TBARiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="NewIssueRiskMember" id="baif_NewIssueRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="LoanRiskMember" id="baif_LoanRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="SpecialPurposeAcquisitionCompanySPACRiskMember" id="baif_SpecialPurposeAcquisitionCompanySPACRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="WarrantsAndRightsRiskMember" id="baif_WarrantsAndRightsRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="RelativeValueStrategiesRiskMember" id="baif_RelativeValueStrategiesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="MarketCapitalizationRiskMember" id="baif_MarketCapitalizationRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="ArbitrageStrategiesRiskMember" id="baif_ArbitrageStrategiesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="DistressedSecuritiesRiskMember" id="baif_DistressedSecuritiesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="BankruptcyProcessAndTradeClaimsRiskMember" id="baif_BankruptcyProcessAndTradeClaimsRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="MacroStrategyRiskMember" id="baif_MacroStrategyRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="FocusedInvestmentRiskMember" id="baif_FocusedInvestmentRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="ConvertibleSecuritiesRiskMember" id="baif_ConvertibleSecuritiesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="NonExchangeTradedSecuritiesRiskMember" id="baif_NonExchangeTradedSecuritiesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="GovernmentIssuedSecuritiesRiskMember" id="baif_GovernmentIssuedSecuritiesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="RepurchaseAgreementsRiskMember" id="baif_RepurchaseAgreementsRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="EventLinkedInstrumentRiskMember" id="baif_EventLinkedInstrumentRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="ActivistStrategiesRiskMember" id="baif_ActivistStrategiesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="AllocationRiskMember" id="baif_AllocationRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="MultiManagerRiskMember" id="baif_MultiManagerRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="LargePurchaseOrRedemptionRiskMember" id="baif_LargePurchaseOrRedemptionRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="ConflictsOfInterestRiskMember" id="baif_ConflictsOfInterestRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="LimitationsOnTransactionsWithAffiliatesMember" id="baif_LimitationsOnTransactionsWithAffiliatesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="CybersecurityRiskMember" id="baif_CybersecurityRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="AITechnologiesDevelopmentsRiskMember" id="baif_AITechnologiesDevelopmentsRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="ValuationRiskMember" id="baif_ValuationRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="TaxRiskMember" id="baif_TaxRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="ModelAndTechnologyRiskMember" id="baif_ModelAndTechnologyRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="RegulatoryRiskMember" id="baif_RegulatoryRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="LongShortStrategiesRiskMember" id="baif_LongShortStrategiesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="HedgingTransactionsRiskMember" id="baif_HedgingTransactionsRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="HighPortfolioTurnoverRiskMember" id="baif_HighPortfolioTurnoverRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="LimitedCapacityRiskMember" id="baif_LimitedCapacityRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="RiskControlFrameworkRiskMember" id="baif_RiskControlFrameworkRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="SubsidiaryRiskMember" id="baif_SubsidiaryRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="BorrowingRiskMember" id="baif_BorrowingRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="InvestmentStyleRiskMember" id="baif_InvestmentStyleRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="DefensiveInvestingRiskMember" id="baif_DefensiveInvestingRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="SystematicTradingRiskMember" id="baif_SystematicTradingRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="SecuritiesLendingRiskMember" id="baif_SecuritiesLendingRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="MarketRiskAndSelectionRiskMember" id="baif_MarketRiskAndSelectionRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>

</xs:schema>
