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-4.42% 3 years+2.55%
3 months-4.07% 5 years+2.32%
1 year-0.46% Since inception+6.69%
Data through --

Peer Comparisonvs. Market neutral

Performance 5-yr return+2.32%+1.26%
Expense ratio1.65%1.81%
Risk 5 year sharpe ratio1.250.19
Net assets$5.6B$726.6M
Average market cap$18.1B$33.9B
Average P/E19.316.2
Portfolio turnover194%194%

There are thousands of mutual funds to choose from. Get Money Magazine’s picks in all major categories.

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. stock63.32%
International stock4.84%
Fixed income3.14%
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
-- Hillshire Brands Co3.87%
TWC Time Warner Cable Inc3.83%
-- Forest Laboratories Inc2.93%
AIG American International Group Inc2.69%
LAMR Lamar Advertising Co Class A2.67%
HES Hess Corp2.52%
HUN Huntsman Corp2.38%
NOV National Oilwell Varco Inc2.25%
ACT Actavis PLC2.17%
COV Covidien PLC2.17%

To view my watchlist

Not a member yet?

Sign up now for a free account

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.