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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+0.85% 3 years+1.51%
3 months+1.71% 5 years+1.54%
1 year-1.73% Since inception+6.24%
Data through --

Peer Comparisonvs. Market neutral

Performance 5-yr return+1.54%+1.10%
Expense ratio1.90%1.65%
Risk 5 year sharpe ratio0.430.08
Net assets$4.1B$463.4M
Average market cap$19.0B$27.1B
Average P/E22.214.7
Portfolio turnover157%157%

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Fund Management and Purchase Info

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


U.S. stock54.37%
Fixed income7.47%
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
-- 5.16%
HOT Starwood Hotels & Resorts Worldwide Inc4.47%
YHOO Yahoo!3.76%
KLAC KLA-Tencor Corp3.71%
EMC EMC Corp3.60%
BABA Alibaba Group Holding Ltd3.23%
-- 3.19%
IM Ingram Micro Inc2.78%
AIG AIG2.77%
CHTR Charter Communications Inc2.72%

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