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The Merger Fund® Investor Class (MERFX)

15.48
Net Asset Value
+0.45%
1 Day
-0.96%
Year-to-Date
Overall Morningstar Rating
Market neutral
Style or Category
No Load
Sales Expenses
1.70%
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-1.46% 3 years+1.71%
3 months-2.89% 5 years+2.09%
1 year-2.65% Since inception+6.47%
Data through --

Peer Comparisonvs. Market neutral

 MERFXCategory
Performance 5-yr return+2.09%+1.42%
Expense ratio1.70%1.75%
Risk 5 year sharpe ratio0.950.21
Net assets$5.2B$498.6M
Average market cap$18.3B$31.2B
Average P/E22.517.0
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

Holdings

U.S. stock72.45%
Cash21.15%
Fixed income3.87%
International stock2.54%
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
-- 3.64%
-- 3.51%
AIG AIG3.17%
HSP Hospira Inc3.03%
T AT&T2.91%
-- 2.75%
TWC Time Warner Cable Inc2.41%
-- 2.41%
-- 2.32%
ALTR Altera Corp2.14%

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