M&A - MERGER FUND

Form Type: 485BPOS

Filing Date: 2025-04-22

Corporate Action: Merger

Type: Update

Accession Number: 000093041325001313

Filing Summary: This document serves as a registration statement for The Merger Fund under the Securities Act of 1933, detailing the investment objectives aimed at capital growth through merger arbitrage. It discusses the fund's portfolio allocation, which will primarily focus on investments in publicly announced mergers, takeovers, and related corporate reorganizations. The Merger Fund will maintain at least 80% of its total assets in equity, preferred stock, and warrants of targeted companies, employing strategies like hedging to manage risks associated with merger-arbitrage. Furthermore, the document outlines various associated risks including merger-arbitrage risk, short sales risk, SPAC risk, and liquidity risk, among others. The fund intends to limit its Total Annual Fund Operating Expenses through contractual agreements with the adviser, and holds the right to modify or terminate these agreements after April 30, 2026. The document also emphasizes the active trading nature of the fund, indicating a high rate of portfolio turnover expected to drive investment returns.

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Form Type: 24F-2NT

Filing Date: 2025-03-17

Corporate Action: Merger

Type: New

Accession Number: 000094040025000138

Filing Summary: On March 17, 2025, MERGER FUND filed a 24F-2NT form indicating a corporate action related to a merger. The filing was made by Jennifer Fromm, who serves as the Vice President, Chief Legal Officer, Counsel, and Secretary of the fund. The document provides financial figures such as total assets and liabilities, with total assets reported at approximately 3.72 billion and total liabilities at around -3.23 billion. This indicates a significant evaluation of the fund's positioning ahead of the merger. The fund is located at 101 Munson Street, Greenfield, MA.

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Form Type: N-CEN

Filing Date: 2025-03-17

Corporate Action: Merger

Type: Update

Accession Number: 000175272425058075

Filing Summary: On March 17, 2025, Merger Fund filed a Form N-CEN detailing its operations and affiliated service providers. The fund is advised by Virtus Investment Advisers, LLC, with multiple roles attributed to Westchester Capital Management, LLC, as subadviser. Custodial services are provided by The Bank of New York Mellon and administrative functions by Virtus Fund Services, LLC. The fund also employs BNY Mellon Investment Servicing (US) Inc. for various accounting responsibilities. This filing does not indicate previous actions and updates records related to revenue sharing and various regulatory rules governing fund operations. Key financial figures recorded include significant revenue sharing totals, underscoring the fund's operational scale and partnerships. Regulatory provisions under rules such as Rule 18f-4, 12d1-1, and others were noted, reflecting compliance with SEC regulations for mutual funds.

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Form Type: N-CSR

Filing Date: 2025-03-07

Corporate Action: Merger

Type: Update

Accession Number: 000119312525049863

Filing Summary: The Merger Fund® reported its annual results for the fiscal year ending December 31, 2024. The Fund's Class A shares returned 3.27%, outperforming the Bloomberg U.S. Aggregate Bond Index which returned 1.25%. The Fund focuses on investing in public mergers and acquisitions, assessing risks and potential gains, and avoiding transactions with low odds of completion. Key contributors to performance included SPACs and high-profile mergers, while notable detractors included regulated blocked acquisitions. The Fund employs a bottom-up research approach to analyze merger opportunities, emphasizing the importance of individual investment outcomes over general market conditions. Fund net assets totaled $2,317,706, with an advisory fee of $23,399. The report also highlighted the composition of deals by buyer type, with strategic buyers representing the majority. The report provided detailed statistics on past performance, emphasizing the importance of past results while noting that they are not indicative of future performance. The Fund has adopted a Code of Ethics and determined that it has an audit committee financial expert on its Board of Trustees.

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Form Type: NPORT-P

Filing Date: 2025-02-28

Corporate Action: Merger

Type: New

Accession Number: 000175272425047608

Filing Summary: On February 28, 2025, Merger Fund is filing for a corporate action related to a merger. The document details the financials and structure associated with the merger, including information about key holdings, asset and liability changes, and estimates of future financial performance as influenced by the merger. This filing includes a summary of transactions involving various companies including Cartesian Growth Corp II, Shinko Electric Industries Co. Ltd, and Britvic PLC, highlighting their respective contributions and roles in the merger process. Significant financial metrics include total assets and liabilities reported alongside individual company transaction values.

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