The Merger Fund® Investor Class (MERFX)

15.78
Net Asset Value
+0.19%
1 Day
-1.44%
Year-to-Date
Overall Morningstar Rating
Market neutral
Style or Category
No Load
Sales Expenses
1.65%
Expense Ratio
Below Average
Morningstar Risk Rating™
Investment Objective The investment seeks capital growth by engaging in merger arbitrage. 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.

Performance

1 month-4.42% 3 years+2.55%
3 months-4.07% 5 years+2.32%
1 year-0.46% Since inception+6.69%
Data through --

Peer Comparisonvs. Market neutral

 MERFXCategory
Performance 5-yr return+2.32%+1.26%
Expense ratio1.65%1.81%
Risk 5 year sharpe ratio1.250.19
Net assets$5.6B$726.6M
Average market cap$18.1B$33.9B
Average P/E19.316.2
Portfolio turnover194%194%

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Fund Management and Purchase Info

Fund familyMerger
Fund manager & tenureRoy Behren / 7 Years
Minimal initial investment$2,000.00
Minimum IRA investment$2,000.00

Holdings

U.S. stock63.32%
Cash30.64%
International stock4.84%
Fixed income3.14%
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
-- Hillshire Brands Co3.87%
TWC Time Warner Cable Inc3.83%
-- Forest Laboratories Inc2.93%
AIG American International Group Inc2.69%
LAMR Lamar Advertising Co Class A2.67%
HES Hess Corp2.52%
HUN Huntsman Corp2.38%
NOV National Oilwell Varco Inc2.25%
ACT Actavis PLC2.17%
COV Covidien PLC2.17%

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