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MERFX:NASDAQ

Merger Fund – MERFX Fund Overview

Last PriceToday's Change52-Week RangeTrading Volume
15.970.00 (0.00%)15.64 - 16.120.0

Market data as of 6:05PM 05/24/13. Quotes are delayed by at least 15 min.

Overview - MERFX

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, spinoffs, liquidations and other corporate reorganizations. It is non-diversified.

Growth of $10,000 (10 Years)

Total Return6.87%
Yield (Trailing 12 Mo.)1.62%
Expense Ratio1.87%
Front LoadNone
Deferred LoadNone
Minimum Investment$2,000
Management Tenure6 Years
Fund Inception01/31/1989

Trailing Total Returns - MERFX

as of 04/30/2013
TimeframeMERFXS&P 500Market Neutral
1 Month0.25%1.93%-0.08%
3 Month1.14%7.18%0.15%
Year-to-Date0.51%12.74%0.39%
1 Year2.69%16.89%-0.24%
3 Year2.63%12.80%0.47%
5 Year3.41%5.21%0.34%
10 Year4.12%7.88%2.45%
Since Inception6.87%10.38%--

Sector Allocation - MERFX

as of 04/30/2013
Basic Materials
 
2.30%
Consumer Cyclical
 
13.71%
Financial Services
 
8.41%
Real Estate
 
0.19%
Consumer Defensive
 
7.85%
Healthcare
 
13.18%
Utilities
 
0.00%
Communication Services
 
14.64%
Energy
 
22.52%
Industrials
 
12.84%
Technology
 
4.36%

Asset Allocation - MERFX

as of 04/30/2013
By PercentShort0%LongNet
Stock3.65
 
 
57.8354.18
Bond0.05
 
 
1.030.99
Other4.76
 
 
3.58-1.18
Foreign Stock6.79
 
 
19.5512.76
Foreign Bond0.00
 
 
0.000.00
Total15.2581.9966.75
Cash45.88
 
 
79.1433.26
Total Net Assets$4.49B
Total Stock Holdings88
Total Bond Holdings5

Top Ten Holdings - MERFX

as of 04/30/2013
CompanyYTD Return% of Assets
Coventry Health Care, Inc.11.30%3.75%
Nexen, Inc.1.74%3.69%
Telus Corporation Swap (Baml)--2.91%
Telus Corporation Swap (Non Vote)(Baml)--2.89%
Xstrata Plc Swap (Jpm)--2.68%
CYMI15.35%2.46%
PXP-3.81%2.43%
TMUS23.84%2.40%
Warnaco Group, Inc.2.72%2.35%
Tnt Express Nv Swap (Jpm)--2.30%

Valuation & Growth - MERFX

as of 04/30/2013
ValuationMERFXCategory Range
Price/Earnings15.19
Price/Book1.74
Price/Sales0.81
Price/Cash Flow6.95
Dividend Yield1.35
LT Earnings10.34
Historical Earnings7.38
Sales Growth-9.55
Cash-Flow Growth0.59
Book-Value Growth-2.48
Key:  Lo 
 Hi

Morningstar Summary - MERFX, 3 Year

Management Style
Large Cap
Medium Cap
Small Cap
Ratingvs Category
Overall
RiskLow
ReturnAbove Avg
Key:  Lo 
 Hi

Tax Analysis - MERFX, 3 Year Avg

Pretax Return2.63%
Tax-adjusted Return1.84%
Tax Cost Ratio0.77%
Potential Cap Gains-0.13%

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