The Merger Fund® Investor Class (MERFX)

16.76
Net Asset Value
-0.18%
1 Day
+5.14%
Year-to-Date
Overall Morningstar Rating
Market neutral
Style or Category
No Load
Sales Expenses
1.92%
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+1.64% 3 years+2.35%
3 months+2.01% 5 years+2.70%
1 year+5.70% Since inception+6.10%
Data through --

Peer Comparisonvs. Market neutral

 MERFXCategory
Performance 5-yr return+2.70%+0.87%
Expense ratio1.92%1.64%
Risk 5 year sharpe ratio0.750.19
Net assets$2.4B$445.5M
Average market cap$25.3B$25.3B
Average P/E20.817.7
Portfolio turnover166%166%

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Fund Management and Purchase Info

Fund familyWestchester Capital
Fund manager & tenureRoy Behren / 11 Years
Minimal initial investment$2,000.00
Minimum IRA investment--

Holdings

U.S. stock56.69%
Cash31.01%
Fixed income11.60%
Other0.74%
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
AABA Yahoo!10.93%
BABA Alibaba Group Holding Ltd9.21%
NXPI NXP Semiconductors NV7.50%
-- 7.07%
-- 4.61%
COL Rockwell Collins Inc4.14%
-- 3.45%
FOX Twenty-First Century Fox3.28%
AET Aetna3.13%
DPS Dr Pepper Snapple Group Inc2.87%