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The Merger Fund® Investor Class (MERFX)

15.54
Net Asset Value
+0.26%
1 Day
+1.50%
Year-to-Date
Overall Morningstar Rating
Market neutral
Style or Category
No Load
Sales Expenses
1.90%
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.

Performance

1 month+0.13% 3 years+1.07%
3 months+0.52% 5 years+2.29%
1 year+3.39% Since inception+6.21%
Data through --

Peer Comparisonvs. Market neutral

 MERFXCategory
Performance 5-yr return+2.29%+0.97%
Expense ratio1.90%1.66%
Risk 5 year sharpe ratio0.790.30
Net assets$3.8B$460.7M
Average market cap$17.2B$28.7B
Average P/E19.417.5
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--

Holdings

U.S. stock48.82%
Cash46.58%
Fixed income6.35%
International stock0.00%
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
-- 5.00%
-- 4.61%
-- 4.45%
-- 4.16%
KLAC KLA-Tencor Corp4.14%
-- 3.85%
YHOO Yahoo!3.74%
LNKD LinkedIn3.49%
BABA Alibaba Group Holding Ltd3.17%
-- 3.10%

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