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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+1.16% 3 years+1.23%
3 months+0.97% 5 years+2.09%
1 year+2.43% Since inception+6.17%
Data through --

Peer Comparisonvs. Market neutral

Performance 5-yr return+2.09%+1.86%
Expense ratio1.90%1.65%
Risk 5 year sharpe ratio0.740.37
Net assets$3.0B$438.3M
Average market cap$17.3B$24.2B
Average P/E20.317.2
Portfolio turnover157%157%

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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. stock52.04%
Fixed income4.81%
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
-- 6.32%
YHOO Yahoo!5.66%
BABA Alibaba Group Holding Ltd5.53%
LNKD LinkedIn5.19%
KLAC KLA-Tencor Corp4.39%
IM Ingram Micro Inc3.69%
-- 3.62%
STJ St. Jude Medical3.26%
LRCX Lam Research Corp2.98%
AIG AIG2.55%

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