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. 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.


1 month+0.18% 3 years+2.94%
3 months+2.26% 5 years+2.65%
1 year+2.26% Since inception+6.60%
Data through --

Peer Comparisonvs. Market neutral

Performance 5-yr return+2.65%+1.25%
Expense ratio1.65%1.72%
Risk 5 year sharpe ratio1.030.21
Net assets$5.4B$582.5M
Average market cap$19.6B$34.6B
Average P/E20.018.2
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


U.S. stock69.84%
International stock6.40%
Fixed income3.40%
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
-- Covidien PLC4.22%
TWC Time Warner Cable Inc4.13%
DTV Directv4.05%
AGN Allergan Inc3.84%
TRW TRW Automotive Holdings Corp3.55%
SHPG Shire PLC ADR3.17%
MDT Medtronic Inc2.89%
CMCSA Comcast Corp Class A2.86%
AIG American International Group Inc2.77%
LAMR Lamar Advertising Co Class A2.58%

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