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The Merger Fund® Investor Class (MERFX)

15.99
Net Asset Value
-0.06%
1 Day
+2.11%
Year-to-Date
Overall Morningstar Rating
Market neutral
Style or Category
No Load
Sales Expenses
2.12%
Expense Ratio
Below Average
Morningstar Risk Rating™
Investment Objective The investment seeks capital growth by engaging in merger arbitrage. Under normal market conditions, the fund invests at least 80% of its total assets principally in the common stock, preferred stock and, occasionally, warrants of companies which are involved in publicly announced mergers, takeovers, tender offers, leveraged buyouts, spin-offs, liquidations and other corporate reorganizations. Merger arbitrage is a highly specialized investment approach generally designed to profit from the successful completion of such transactions.

Performance

1 month-0.25% 3 years+0.83%
3 months+0.31% 5 years+2.07%
1 year+3.49% Since inception+6.13%
Data through --

Peer Comparisonvs. Market neutral

 MERFXCategory
Performance 5-yr return+2.07%+0.88%
Expense ratio2.12%1.60%
Risk 5 year sharpe ratio0.790.34
Net assets$2.8B$417.4M
Average market cap$26.6B$36.0B
Average P/E24.720.9
Portfolio turnover182%182%

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Fund Management and Purchase Info

Fund familyWestchester Capital
Fund manager & tenureRoy Behren / 10 Years
Minimal initial investment$2,000.00
Minimum IRA investment--

Holdings

U.S. stock58.33%
Cash35.97%
Fixed income8.04%
International stock0.00%
Other0.00%
Top 5 Sectors
Portfolio weighting
Industrial materials 22.94%
Healthcare 20.47%
Telecommunication 11.34%
Consumer goods 10.14%
Business service 4.52%
Top 10 Holdings
Portfolio weighting
AABA Yahoo!7.31%
NXPI NXP Semiconductors NV6.65%
BABA Alibaba Group Holding Ltd6.54%
-- 6.40%
TWX Time Warner6.03%
BCR C R Bard Inc4.50%
-- 4.07%
-- 4.00%
MBLY Mobileye NV3.05%
LVLT Level 3 Communications Inc2.98%