MMAJX Performance — MProved Systematic Merger Arbitrage Fund, Investor Class
Data updated: 2021-08-23
MMAJX returned +8.36% over one year to Jun 2021. Over one year the fund trailed its Europe Real Estate category average: $100 grew to $108, against $127 for the category. Volatility over the past 12 months was 4.78% a year. In the 12 months to Jun 2021 the fund took in a net $43.3M, and assets reached $45.72M.
MMAJX Growth of $100
What $100 invested in MProved Systematic Merger Arbitrage Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Europe Real Estate category average over the same months.
| Period | MMAJX | Category average |
|---|---|---|
| 1 year (Jul 2020 – Jun 2021) | $108 | $127 |
| Since data start (Jan 2020 – Jun 2021) | $106 | $108 |
MMAJX Trailing Returns
Total returns to Jun 2021, from SEC N-PORT.
| Period | Total return |
|---|---|
| 1 year | +8.36% |
MMAJX Annual Returns
Calendar-year total returns of MProved Systematic Merger Arbitrage Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2021 (Jan–Jun) | +7.03% |
| 2020 | −1.05% |
MMAJX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | +1.1% | +0.9% | +0.8% | +4.3% | +1.3% | −1.5% | — | — | — | — | — | — |
| 2020 | −0.7% | +1.0% | −4.2% | +2.0% | +0.4% | −0.6% | +0.4% | −0.4% | −0.1% | +0.9% | +0.5% | −0.1% |
MMAJX Risk
Risk measures from monthly returns over Jul 2020 – Jun 2021.
- 1-year volatility (annualised): 4.78%
- Best month: +4.30% (Apr 2021)
- Worst month: −1.48% (Jun 2021)
MMAJX Fund Flows
Monthly money in and out of MProved Systematic Merger Arbitrage Fund, from SEC Form N-PORT.
- 12-month net flow: $43.3M
- 12-month gross sales (incl. reinvestments): $34.5M
- Sales ÷ redemptions: -3.89×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2021 | $490K | −$129K | $619K |
| May 2021 | $740K | −$684K | $1.4M |
| Apr 2021 | $1.6M | −$357K | $1.9M |
| Mar 2021 | $2.8M | −$2.5M | $5.3M |
| Feb 2021 | $5.2M | −$411K | $5.6M |
| Jan 2021 | $1.9M | −$114K | $2.1M |
| Dec 2020 | $3.9M | −$3.8M | $7.7M |
| Nov 2020 | $1.4M | −$385K | $1.8M |
| Oct 2020 | $3.2M | −$442K | $3.6M |
| Sep 2020 | $4.5M | −$20 | $4.5M |
| Aug 2020 | $2.7M | −$4K | $2.7M |
| Jul 2020 | $6.0M | $0 | $6.0M |
MMAJX Assets Under Management
Net assets of MProved Systematic Merger Arbitrage Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2021-06-30 | $45.72M |
| 2021-03-31 | $42.30M |
| 2020-12-31 | $34.37M |
| 2020-09-30 | $30.29M |
| 2020-06-30 | $17.06M |
| 2020-03-31 | $2.17M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.