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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+0.57% 3 years+1.43%
3 months+0.06% 5 years+1.98%
1 year+1.98% Since inception+6.04%
Data through --

Peer Comparisonvs. Market neutral

Performance 5-yr return+1.98%+0.91%
Expense ratio2.12%1.63%
Risk 5 year sharpe ratio0.660.35
Net assets$2.4B$413.3M
Average market cap$22.7B$31.8B
Average P/E23.521.6
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. stock52.65%
Fixed income8.65%
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
AABA Yahoo!9.13%
BABA Alibaba Group Holding Ltd8.23%
TWX Time Warner7.61%
NXPI NXP Semiconductors NV5.95%
BCR C R Bard Inc5.29%
-- 3.73%
-- 3.39%
-- 2.90%
HUN Huntsman Corp2.86%
VNTV Vantiv Inc2.72%