VARBX: Vivaldi Merger Arbitrage Fund - MutualFunds.com
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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD & DIV

Exp Ratio

Watchlist

$11.36

-

0.00%

$0.00

1.55%

Vitals

YTD Return

4.8%

1 yr return

9.4%

3 Yr Avg Return

5.3%

5 Yr Avg Return

4.0%

Net Assets

$665 M

Holdings in Top 10

69.1%

52 WEEK LOW AND HIGH

$11.35
$10.44
$11.47

Expenses

OPERATING FEES

Expense Ratio 1.55%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee 1.00%


Min Investment

Standard (Taxable)

$500,000

IRA

$500,000


Fund Classification

Fund Type

Open End Mutual Fund

Investment Style

Event Driven


Name

Price

Aum/Mkt Cap

YIELD & DIV

Exp Ratio

Watchlist

$11.36

-

0.00%

$0.00

1.55%

VARBX - Profile

Distributions

  • YTD Total Return 4.8%
  • 3 Yr Annualized Total Return 5.3%
  • 5 Yr Annualized Total Return 4.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -1.01%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Vivaldi Merger Arbitrage Fund
  • Fund Family Name
    Vivaldi
  • Inception Date
    Oct 01, 2015
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Daniel Lancz

Fund Description

Under normal market conditions, the fund primarily invests in equity securities (publicly-traded common stock and preferred stock) and derivatives thereof of companies that are involved in a significant corporate event, such as a merger or acquisition. Investments in companies undergoing a merger or acquisition have both risk and return characteristics that are different from the risks of investing in the general stock market. It may invest in equity securities of any market capitalization. The fund is non-diversified.


VARBX - Performance

Return Ranking - Trailing

Period VARBX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.8% -11.6% 15.8% 37.00%
1 Yr 9.4% -33.0% 41.7% 40.78%
3 Yr 5.3%* -10.5% 13.4% 30.61%
5 Yr 4.0%* -4.8% 11.1% 46.99%
10 Yr N/A* -4.6% 7.6% 5.88%

* Annualized

Return Ranking - Calendar

Period VARBX Return Category Return Low Category Return High Rank in Category (%)
2020 3.1% -31.7% 23.2% 27.55%
2019 -1.2% -20.7% 10.7% 62.89%
2018 1.9% -12.4% 14.7% 18.89%
2017 0.7% -13.2% 12.9% 60.76%
2016 1.7% -11.7% 7.9% 50.00%

Total Return Ranking - Trailing

Period VARBX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.8% -11.7% 15.8% 37.00%
1 Yr 9.4% -33.0% 41.7% 33.01%
3 Yr 5.3%* -10.5% 13.4% 27.55%
5 Yr 4.0%* -4.8% 11.1% 44.58%
10 Yr N/A* -4.6% 7.6% 5.88%

* Annualized

Total Return Ranking - Calendar

Period VARBX Return Category Return Low Category Return High Rank in Category (%)
2020 3.1% -31.7% 23.2% 27.55%
2019 -1.2% -20.7% 10.7% 62.89%
2018 1.9% -12.4% 14.7% 30.00%
2017 0.7% -12.7% 12.9% 79.75%
2016 1.7% -11.5% 13.2% 70.00%

NAV & Total Return History


VARBX - Holdings

Concentration Analysis

VARBX Category Low Category High VARBX % Rank
Net Assets 665 M 105 K 12.6 B 25.96%
Number of Holdings 135 5 2526 75.00%
Net Assets in Top 10 325 M -619 M 6.53 B 13.46%
Weighting of Top 10 69.10% 7.6% 96.1% 13.41%

Top 10 Holdings

  1. Morgan Stanley Instl Lqudty Govt Instl 35.81%
  2. Allergan PLC 15.42%
  3. Livongo Health Inc 7.18%
  4. Teladoc Health Inc 6.65%
  5. Varian Medical Systems Inc 6.60%
  6. AbbVie Inc 5.75%
  7. Charles Schwab Corp 5.67%
  8. TD Ameritrade Holding Corp 5.64%
  9. LogMeIn Inc 5.54%
  10. National General Holdings Corp 5.45%

Asset Allocation

Weighting Return Low Return High VARBX % Rank
Stocks
62.87% -57.09% 325.56% 21.15%
Cash
35.81% -225.56% 102.75% 65.38%
Other
1.32% -11.90% 43.69% 26.92%
Preferred Stocks
0.00% 0.00% 5.67% 93.27%
Convertible Bonds
0.00% 0.00% 95.47% 93.27%
Bonds
0.00% -1.04% 63.30% 89.42%

Stock Sector Breakdown

Weighting Return Low Return High VARBX % Rank
Financial Services
69.09% 0.00% 98.37% 8.60%
Healthcare
13.96% 0.00% 27.28% 26.88%
Technology
10.21% 0.00% 100.00% 70.97%
Consumer Cyclical
6.74% 0.00% 29.06% 61.29%
Utilities
0.00% 0.00% 66.28% 100.00%
Real Estate
0.00% 0.00% 93.91% 100.00%
Industrials
0.00% 0.00% 27.58% 100.00%
Energy
0.00% 0.00% 53.30% 100.00%
Communication Services
0.00% 0.00% 33.72% 100.00%
Consumer Defense
0.00% 0.00% 30.58% 100.00%
Basic Materials
0.00% 0.00% 42.74% 100.00%

Stock Geographic Breakdown

Weighting Return Low Return High VARBX % Rank
US
62.32% -55.82% 325.56% 11.54%
Non US
0.55% -7.09% 86.98% 57.69%

VARBX - Expenses

Operational Fees

VARBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.55% 0.73% 9.52% 59.22%
Management Fee 1.25% 0.13% 1.65% 75.00%
12b-1 Fee N/A 0.00% 1.00% 75.41%
Administrative Fee 0.10% 0.06% 0.40% 77.78%

Sales Fees

VARBX 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

VARBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.00% 1.00% 2.00% 100.00%

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.

VARBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 30.00% 483.00% 100.00%

VARBX - Distributions

Dividend Yield Analysis

VARBX Category Low Category High VARBX % Rank
Dividend Yield 0.00% 0.00% 0.75% 87.50%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

VARBX Category Low Category High VARBX % Rank
Net Income Ratio -1.01% -2.49% 4.20% 81.55%

Capital Gain Distribution Analysis

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

Dividend Payout History

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VARBX - Fund Manager Analysis

Managers

Daniel Lancz


Start Date

Tenure

Tenure Rank

Oct 01, 2015

5.92

5.9%

Mr. Lancz has served as Portfolio Manager for Vivaldi Asset Management since November 2014. Prior to joining Vivaldi, Mr. Lancz was the Chief Compliance Officer, Director of Research and Member of the General Partner of Glenfinnen Capital LLC since 2003. Mr. Lancz was also the Director of Research at Augusta Capital Management L.P. from 2000 until 2003. Mr. Lancz received a Bachelor of Science degree from Miami University.

Jeff O’Brien


Start Date

Tenure

Tenure Rank

Oct 01, 2015

5.92

5.9%

Jeff O’Brien joined Vivaldi in 2014. Prior to joining Vivaldi, Mr. O’Brien was the Founder and Managing Member of Glenfinnen Capital, LLC (“Glenfinnen”) which served as the investment advisor for two merger arbitrage hedge funds. Prior to founding Glenfinnen in April 2000, Mr. O’Brien served as a portfolio manager and research analyst on the risk arbitrage desk at First Capital Alliance for five years and before that as a credit analyst at NationsBank. Mr. O’Brien earned a Bachelor of Science in Finance from Indiana University.

Tenure Analysis

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