About Westchester Capital
Westchester Capital Management (WCM) is a registered investment adviser specializing in liquid alternative investment strategies. We manage a variety of investment portfolios using a combination of strategies to invest in publicly announced event opportunities such as mergers, acquisitions, takeovers, spin-offs and other corporate reorganizations, with the goal of profiting from the timely completion of these transactions.
Our investment management process is designed to deliver consistent results with low correlation to broader market returns, thereby lowering overall portfolio risk and potentially enhancing returns for a diversified portfolio.
Latest News & Commentary from Westchester Capital
Portfolio Managers Roy Behren and Mike Shannon discuss the drivers behind our funds’ Q2 performance and offer their insights on the global markets in our Q2 Quarterly Review for shareholders.
Portfolio Managers Roy Behren and Mike Shannon offer their insights on recent developments in the merger arbitrage environment.
Leslie Norton of Barron’s highlights The Merger Fund’s (MERFX) 30 years of success as well as insight from co-portfolio managers Roy Behren and Michael Shannon on deals they believe are inefficiently priced in the article, “Market Volatility Got You Nervous? The Merger Fund Might Be the Answer.”
The Merger Fund – Institutional Class (MERIX) has a five-star Morningstar rating out of 113 market-neutral funds, based upon risk-adjusted returns, as of 9/30/19. The Merger Fund – Investor Class (MERFX) has a four-star Morningstar rating out of 113 market-neutral funds, based upon risk-adjusted returns, as of 9/30/19. The overall Morningstar Rating is derived from a weighted average of the funds' 3, 5 and 10-year Morningstar Rating metrics.