Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

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 month0.00% 3 years+1.01%
3 months+0.39% 5 years+2.07%
1 year+1.38% Since inception+6.20%
Data through --

Peer Comparisonvs. Market neutral

Performance 5-yr return+2.07%+1.86%
Expense ratio1.90%1.67%
Risk 5 year sharpe ratio0.870.41
Net assets$3.5B$453.3M
Average market cap$17.2B$23.1B
Average P/E19.416.3
Portfolio turnover157%157%

There are thousands of mutual funds to choose from. Get Money Magazine’s picks in all major categories.

Fund Management and Purchase Info

Fund familyWestchester Capital
Fund manager & tenureRoy Behren / 9 Years
Minimal initial investment$2,000.00
Minimum IRA investment--


U.S. stock48.82%
Fixed income6.35%
International stock0.00%
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
-- 5.00%
JCI Tyco4.61%
-- 4.45%
-- 4.16%
KLAC KLA-Tencor Corp4.14%
-- 3.85%
YHOO Yahoo!3.74%
LNKD LinkedIn3.49%
BABA Alibaba Group Holding Ltd3.17%
-- 3.10%

Search for Jobs