SPAIX: SilverPepper Merger Arbitrage Fund - MutualFunds.com
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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD & DIV

Exp Ratio

Watchlist

$10.99

-

0.00%

$0.00

2.98%

Vitals

YTD Return

4.6%

1 yr return

5.0%

3 Yr Avg Return

0.6%

5 Yr Avg Return

1.3%

Net Assets

$13.4 M

Holdings in Top 10

N/A

52 WEEK LOW AND HIGH

$10.97
$10.42
$10.99

Expenses

OPERATING FEES

Expense Ratio 2.98%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 428.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$5,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund

Investment Style

Event Driven


Name

Price

Aum/Mkt Cap

YIELD & DIV

Exp Ratio

Watchlist

$10.99

-

0.00%

$0.00

2.98%

SPAIX - Profile

Distributions

  • YTD Total Return 4.6%
  • 3 Yr Annualized Total Return 0.6%
  • 5 Yr Annualized Total Return 1.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.90%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    SilverPepper Merger Arbitrage Fund
  • Fund Family Name
    SilverPepper
  • Inception Date
    Oct 31, 2013
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Steven Gerbel

Fund Description

Under normal circumstances, the fund invests primarily in equity securities of U.S. and Canadian issuers, which may include American Depository Receipts ("ADRs"). ADRs are receipts that represent interests in foreign securities held on deposit by U.S. banks. Under normal market conditions, it will primarily invest using merger arbitrage strategies. The fund is non-diversified.


SPAIX - Performance

Return Ranking - Trailing

Period SPAIX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.6% -11.6% 15.8% 76.00%
1 Yr 5.0% -33.0% 41.7% 69.90%
3 Yr 0.6%* -10.5% 13.4% 66.33%
5 Yr 1.3%* -4.8% 11.1% 67.47%
10 Yr N/A* -4.6% 7.6% 20.00%

* Annualized

Return Ranking - Calendar

Period SPAIX Return Category Return Low Category Return High Rank in Category (%)
2020 -5.7% -31.7% 23.2% 78.57%
2019 1.7% -20.7% 10.7% 32.99%
2018 -1.4% -12.4% 14.7% 47.78%
2017 0.8% -13.2% 12.9% 58.23%
2016 3.7% -11.7% 7.9% 24.29%

Total Return Ranking - Trailing

Period SPAIX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.6% -11.7% 15.8% 77.00%
1 Yr 5.0% -33.0% 41.7% 64.08%
3 Yr 0.6%* -10.5% 13.4% 66.33%
5 Yr 1.3%* -4.8% 11.1% 67.47%
10 Yr N/A* -4.6% 7.6% 33.33%

* Annualized

Total Return Ranking - Calendar

Period SPAIX Return Category Return Low Category Return High Rank in Category (%)
2020 -5.7% -31.7% 23.2% 78.57%
2019 1.7% -20.7% 10.7% 32.99%
2018 -1.4% -12.4% 14.7% 60.00%
2017 0.8% -12.7% 12.9% 77.22%
2016 3.7% -11.5% 13.2% 37.14%

NAV & Total Return History


SPAIX - Holdings

Concentration Analysis

SPAIX Category Low Category High SPAIX % Rank
Net Assets 13.4 M 105 K 12.6 B 80.77%
Number of Holdings 53 5 2526 93.27%
Net Assets in Top 10 7.62 M -619 M 6.53 B 64.42%
Weighting of Top 10 N/A 7.6% 96.1% 2.44%

Top 10 Holdings

  1. GW Pharmaceuticals PLC ADR 20.08%
  2. National General Holdings Corp 16.52%
  3. Slack Technologies Inc Class A 16.36%
  4. Constellation Pharmaceuticals Inc 15.21%
  5. New York Community Bancorp Inc 14.70%
  6. Alexion Pharmaceuticals Inc 14.11%
  7. Flagstar Bancorp Inc 14.05%
  8. First Bancorp 12.59%
  9. Cadence Bancorp Class A 12.17%
  10. Select Bancorp Inc 12.17%

Asset Allocation

Weighting Return Low Return High SPAIX % Rank
Stocks
76.44% -57.09% 325.56% 27.88%
Cash
14.64% -225.56% 102.75% 87.50%
Other
8.92% -11.90% 43.69% 8.65%
Preferred Stocks
0.00% 0.00% 5.67% 32.69%
Convertible Bonds
0.00% 0.00% 95.47% 47.12%
Bonds
0.00% -1.04% 63.30% 52.88%

Stock Sector Breakdown

Weighting Return Low Return High SPAIX % Rank
Financial Services
53.05% 0.00% 98.37% 16.13%
Healthcare
25.83% 0.00% 27.28% 13.98%
Technology
14.76% 0.00% 100.00% 40.86%
Industrials
4.64% 0.00% 27.58% 26.88%
Consumer Cyclical
1.31% 0.00% 29.06% 83.87%
Energy
0.36% 0.00% 53.30% 26.88%
Basic Materials
0.03% 0.00% 42.74% 83.87%
Utilities
0.02% 0.00% 66.28% 67.74%
Real Estate
0.00% 0.00% 93.91% 76.34%
Communication Services
0.00% 0.00% 33.72% 38.71%
Consumer Defense
0.00% 0.00% 30.58% 68.82%

Stock Geographic Breakdown

Weighting Return Low Return High SPAIX % Rank
US
86.28% -55.82% 325.56% 25.96%
Non US
-9.84% -7.09% 86.98% 61.54%

SPAIX - Expenses

Operational Fees

SPAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.98% 0.73% 9.52% 30.10%
Management Fee 1.50% 0.13% 1.65% 91.35%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.06% 0.40% 51.75%

Sales Fees

SPAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.75% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

SPAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 23.81%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

SPAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 428.00% 30.00% 483.00% 84.27%

SPAIX - Distributions

Dividend Yield Analysis

SPAIX Category Low Category High SPAIX % Rank
Dividend Yield 0.00% 0.00% 0.75% 11.54%

Dividend Distribution Analysis

SPAIX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Quarterly Annually

Net Income Ratio Analysis

SPAIX Category Low Category High SPAIX % Rank
Net Income Ratio -0.90% -2.49% 4.20% 82.52%

Capital Gain Distribution Analysis

SPAIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

SPAIX - Fund Manager Analysis

Managers

Steven Gerbel


Start Date

Tenure

Tenure Rank

Apr 20, 2015

6.37

6.4%

Mr. Gerbel is the Founder, Chief Investment Officer and Managing Member of Chicago Capital and has many years of experience managing hedge funds focused on merger arbitrage and convertible arbitrage markets. Prior to founding Chicago Capital in 1997, Mr. Gerbel was a general partner at First Capital Management, LP, a Chicago-based hedge fund focused on merger and convertible arbitrage, value investing, and distressed markets. Prior to joining First Capital Management, Mr. Gerbel was a trader with Mid-American Commodities Exchange at the Chicago Board of Trade. Mr. Gerbel earned a B.S. in Economics from DePaul University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.59 6.3 9.42