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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+0.77%
3 months+1.46% 5 years+2.23%
1 year+3.23% Since inception+6.16%
Data through --

Peer Comparisonvs. Market neutral

Performance 5-yr return+2.23%+0.93%
Expense ratio2.12%1.62%
Risk 5 year sharpe ratio0.820.37
Net assets$2.9B$413.1M
Average market cap$20.7B$33.2B
Average P/E23.819.7
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--


U.S. stock59.30%
Fixed income7.76%
International stock1.45%
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
RAI Reynolds American5.92%
AABA Yahoo!5.32%
TWX Time Warner4.77%
NXPI NXP Semiconductors NV4.54%
BABA Alibaba Group Holding Ltd4.38%
-- 4.00%
-- 3.62%
-- 3.17%
-- 3.01%
SYT Syngenta AG2.95%