The Merger Fund® Investor Class (MERFX)

Net Asset Value
1 Day
Overall Morningstar Rating
Market neutral
Style or Category
No Load
Sales Expenses
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.


1 month+0.13% 3 years+2.94%
3 months+1.93% 5 years+2.80%
1 year+1.90% Since inception+6.59%
Data through --

Peer Comparisonvs. Market neutral

Performance 5-yr return+2.80%+1.09%
Expense ratio1.70%1.71%
Risk 5 year sharpe ratio0.970.14
Net assets$5.3B$570.3M
Average market cap$20.0B$37.4B
Average P/E20.420.4
Portfolio turnover137%137%

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Fund Management and Purchase Info

Fund familyMerger
Fund manager & tenureRoy Behren / 8 Years
Minimal initial investment$2,000.00
Minimum IRA investment$2,000.00


U.S. stock56.88%
Fixed income6.83%
International stock2.11%
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
TWC Time Warner Cable Inc4.35%
-- 4.09%
-- 3.99%
CMCSA Comcast3.45%
TRW TRW Automotive Holdings Corp3.01%
-- 2.76%
AIG AIG2.66%
-- 2.65%
LAMR Lamar Advertising Co2.28%

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