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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-0.91% 3 years+1.26%
3 months+1.12% 5 years+1.30%
1 year-2.19% Since inception+6.29%
Data through --

Peer Comparisonvs. Market neutral

Performance 5-yr return+1.30%+1.10%
Expense ratio1.70%1.68%
Risk 5 year sharpe ratio0.540.09
Net assets$4.2B$414.6M
Average market cap$20.0B$18.2B
Average P/E23.919.3
Portfolio turnover157%157%

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Fund Management and Purchase Info

Fund familyMerger
Fund manager & tenureRoy Behren / 9 Years
Minimal initial investment$2,000.00
Minimum IRA investment$2,000.00


U.S. stock63.15%
Fixed income8.28%
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
-- 6.08%
TWC Time Warner Cable Inc3.79%
-- 3.75%
-- 3.55%
-- 3.28%
YHOO Yahoo!2.99%
BABA Alibaba Group Holding Ltd2.92%
AIG AIG2.87%
KLAC KLA-Tencor Corp2.79%
DOW Dow Chemical2.28%

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