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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+0.06% 3 years+1.92%
3 months-0.19% 5 years+1.98%
1 year-1.09% Since inception+6.37%
Data through --

Peer Comparisonvs. Market neutral

Performance 5-yr return+1.98%+1.49%
Expense ratio1.70%1.72%
Risk 5 year sharpe ratio0.730.15
Net assets$5.1B$481.7M
Average market cap$17.9B$32.6B
Average P/E18.317.8
Portfolio turnover137%137%

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Fund Management and Purchase Info

Fund familyMerger
Fund manager & tenureRoy Behren / 8 Years
Minimal initial investment$2,000.00
Minimum IRA investment$2,000.00


U.S. stock72.81%
Fixed income5.48%
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
PCP Precision Castparts Corp4.55%
TWC Time Warner Cable Inc3.36%
AIG AIG3.25%
CB Chubb Corp2.89%
BRCM Broadcom Corp2.87%
PRE PartnerRe Ltd2.67%
-- 2.23%
-- 2.14%
TMUS T-Mobile US Inc1.92%
DOW Dow Chemical1.87%