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The Merger Fund® Investor Class (MERFX)

15.46
Net Asset Value
+0.06%
1 Day
+0.98%
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-0.32% 3 years+1.59%
3 months-0.06% 5 years+1.49%
1 year-0.61% Since inception+6.26%
Data through --

Peer Comparisonvs. Market neutral

 MERFXCategory
Performance 5-yr return+1.49%+1.10%
Expense ratio1.90%1.66%
Risk 5 year sharpe ratio0.490.09
Net assets$4.1B$461.9M
Average market cap$19.0B$25.8B
Average P/E22.216.7
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--

Holdings

U.S. stock54.37%
Cash40.16%
Fixed income7.47%
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
-- 5.16%
HOT Starwood Hotels & Resorts Worldwide Inc4.47%
YHOO Yahoo!3.76%
KLAC KLA-Tencor Corp3.71%
EMC EMC Corp3.60%
BABA Alibaba Group Holding Ltd3.23%
-- 3.19%
IM Ingram Micro Inc2.78%
AIG AIG2.77%
CHTR Charter Communications Inc2.72%

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