There would be no disbursements from one fund to the other. Fund A would purchase an asset slowly over time. When it has finished purchasing the asset, fund B would purchase that asset quickly at a scale large enough to increase the market price of it. As the price rose, fund A would sell its position.
The net effect is that fund A sees increased returns and fund B sees decreased returns.
The net effect is that fund A sees increased returns and fund B sees decreased returns.