Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

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+0.81% 3 years+2.36%
3 months+0.50% 5 years+2.29%
1 year+4.00% Since inception+6.10%
Data through --

Peer Comparisonvs. Market neutral

Performance 5-yr return+2.29%+0.91%
Expense ratio2.12%1.63%
Risk 5 year sharpe ratio0.740.34
Net assets$2.8B$413.1M
Average market cap$26.6B$32.1B
Average P/E24.721.2
Portfolio turnover182%182%

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

Fund Management and Purchase Info

Fund familyWestchester Capital
Fund manager & tenureRoy Behren / 10 Years
Minimal initial investment$2,000.00
Minimum IRA investment--


U.S. stock58.33%
Fixed income8.04%
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!7.31%
NXPI NXP Semiconductors NV6.65%
BABA Alibaba Group Holding Ltd6.54%
-- 6.40%
TWX Time Warner6.03%
BCR C R Bard Inc4.50%
-- 4.07%
-- 4.00%
-- 3.05%
LVLT Level 3 Communications Inc2.98%