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Home > Mutual Funds > The GDL Fund Performance

Objective  Fund Details  Price & Performance  Dividend & Tax Info 

The GDL Fund

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Daily Performance As of May 24, 2013
NAV/Share	Change	YTD	1 yr	3 yr	5 yr	10 yr	Life
$ 13.35	- 0.01	+ 3.13%	+ 6.54%	+ 4.74%	+ 2.46%	---	+ 2.66%
Monthly Performance As of April 30, 2013
NAV/Share		YTD	1 yr	3 yr	5 yr	10 yr	Life
$ 13.26		+ 2.44%	+ 3.64%	+ 3.31%	+ 2.53%	---	+ 2.57%

Quarterly Performance As of March 31, 2013

	NAV/Share	YTD	1 yr	3 yr	5 yr	10 yr	Life
Standard	$ 13.16	+ 1.66%	+ 2.86%	+ 3.25%	+ 2.57%	---	+ 2.48%

Morningstar Ratings As of April 30, 2013

Category	Overall	3 Year /Out of	5 Year /Out of	10 Year /Out of
Mid Cap Growth		/ 5	/ 5	N / A

Other Performance As of May 24, 2013
% By Year 2013 + 3.13    2012 + 4.44    2011 + 1.26    More ....	% By Quarter 2Q - 2013 + 1.44    1Q - 2013 + 1.66    4Q - 2012 + 1.35    More ....	% By Month 05 / 2013 + 0.68    04 / 2013 + 0.76    03 / 2013 + 0.53    More ....

Look-Up Past NAVs Start Date: (dd-mon-yyyy) Mon Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec End Date: (dd-mon-yyyy) Mon Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Customize Performance Start Date: (dd-mon-yyyy) Mon Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec End Date: (dd-mon-yyyy) Mon Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Past performance does not guarantee future results.
The information pertaining to Morningstar contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating^TM based on a Morningstar Risk-Adjusted Return measure that accounts for a variation in a Fund's monthly performance (including the effects of sales charges, loads and redemption fees) placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. Morningstar Ratings are for the share classes cited only; other classes may have different performance characteristics and different Morningstar ratings. Most of the funds above offer four classes of shares, each with a different combination of sales charges, ongoing fees and other features. Any mutual fund using Morningstar extended performance, represented by hollow stars, would be considered an estimate based on the performance of the fund's oldest share class and adjusted for fees. © 2012 Morningstar, Inc. All Rights Reserved.

Customized performance does not reflect the full effect of the front-end or back-end sales charges which for The GDL Fund Fund is 0.00%. Quarterly (Standardized) performance reflects the full effect of the front-end sales charge. Other Period Performance does not reflect the full effect of the front-end or back-end sales charges. Please consult your financial advisor for prospectus and for more information on mutual fund sales charges.

(1) Maximum Sales Charge for Class A shares is a percentage of the initial investment and may be reduced based on the size of your investment. Class B and C shares have a contingent deferred sales charge when you redeem your shares depending on your holding period. Please see the Fund's Prospectus or contact your Adviser for a complete description of the applicable sales charge.
(2) Gross Expense Ratio is the expenses of the Fund reflected as a percentage of the Fund's average daily net assets and do not include any voluntary or contractual fee waivers or expense limitations as described in the Fund Prospectus.
(3) Net Expense Ratio is the expenses of the Fund including any voluntary or contractual fee waivers or expense limitations as a percentage of the Fund's average daily net assets. Where applicable, please see the Fund's Prospectus or contact your Adviser for a complete description of the fee waiver or expense limitation, the effective date and the expiration date.

Inception Date: January 26, 2007
Merger arbitrage is a highly specialized investment approach generally designed to profit from the successful completion of proposed mergers, takeovers, tender offers and leveraged buyouts. Broadly speaking, an investor purchases the stock of a company in the process of being acquired by another company in anticipation of capturing the spread between the current market price and the acquisition price. A "stub" refers to a small stake in a target company division or subsidiary that is not purchased by an acquirer in a merger, takeover or leveraged buyout. The arbitrageur may buy the stub, and if the acquiring company is successful in boosting the target company?s appeal, the shares will benefit from a boost in price and the arbitrageur will profit. A spin-off occurs when an independent company is created from an existing part of another company through a distribution of new shares. An arbitrageur may benefit from the share price differential in the same manner as in traditional merger arbitrage if, upon completion of the spin-off, the separate securities trade for more in the aggregate than the former single security. Finally, when a company makes the decision to liquidate, or sell all of its assets, it is often worth more in liquidation than as an ongoing entity. An arbitrageur benefits when the company is able to distribute more than the price at which the stock is trading at the time the arbitrageur acquires its position. In order to minimize market exposure and volatility of such merger arbitrage strategies, the Fund may utilize hedging strategies, such as short selling and the use of options and futures. The Fund may hold a significant portion of its assets in liquid money market securities, which may include affiliated or unaffiliated money market mutual funds.